Solving problems to do with money is a part of KS2 Maths. In year Five children will still look at problems of conversion from pounds to pence; multiplying, adding, dividing and subtracting different amounts; adding together different types of coins; and working out the correct change - but these will involve higher sums of money. They may be presented in problems which involve working out percentages or fractions of different amounts, or converting from one currency to another using currency exchange rates.
Solving real life problems involving money will test your multiplication skills. You are planning a holiday in Australia and need to change your £s into $s. To do this you will need the currency exchange rate. £1 is worth $2.5. To know how many dollars you will get for your £400 you need to multiply 400 x 2.5 = 1,000, so you will get $1,000.
Can you answer questions about percentages and fractions of money? Can you convert using an exchange rate? See you much you remember about solving money problems by playing this quiz.