Currency Units

🏆Practice units of money

There are different types of currencies (different monetary units) in the world. For example, in some countries in Latin America, the peso is used, in others the dollar, and in several European countries, the euro is used.

Each of these monetary units is composed of smaller units. For example:

In one peso there are 100 100 cents or centavos.

In one dollar there are 100 100 cents or penny.

In one euro there are 100 100 cents.

There are also exchange rates that allow us to convert amounts from one currency to another. Like the conversion between the peso and the dollar or dollar and euro.

For example, the exchange rate between the dollar and the Mexican peso today is:

1 1 dollar 17.50 17.50 Mexican pesos.

Or, in words, one dollar is worth 17.50 17.50 Mexican pesos.

Note that we have written that this is its value today, as the exchange rate varies constantly influenced by many economic factors. This topic is really interesting, but it is not related to our article.


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200 cents = ? $

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Currency units were created to quantify money.

In a peso there are 100 100 cents.

In a dollar there are 100 100 cents.

In a euro there are 100 100 cents.

Likewise, there are conversion measures that allow us to convert amounts from one currency to another. For example, in the conversion between peso and dollar, dollar and euro, etc.


Example of an exercise with currency units

How many cents are there in 5 5 dollars?

If there are 100 100 cents in a dollar, we should multiply the 5 5 dollars by 100 100 to get the equivalent amount of cents.

1 1 dollar =100 =100 cents

5 5 dollars =X =X cents

5×100=500 5\times 100=500

Therefore, 5 5 dollars are equivalent to 500 500 cents.


If you are interested in this article, you might also be interested in the following articles:

  • Units of length
  • Units of weight
  • Units of time
  • Units of area
  • Units of volume

On the Tutorela website you can find a variety of mathematics articles


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Examples of exercises with monetary units

Example 1

How many cents are there in 5 5 dollars?

If there are 100 100 cents in a dollar, we must multiply the 5 5 dollars by 100 100 to find the number of cents.

1 1 dollar =100 =100 cents

5 5 dollars =X =X cents

100×5=500 100\times5=500

Therefore, there are 500 500 cents in 5 5 dollars.


Example 2

How many cents are there in 200 200 pesos?

Let's remember that in one peso there are 100 100 cents. The calculation will look like this:

1 1 peso =100 =100 cents.

200200 pesos=200 =200 × \times 100 100 cents =20,000 =20,000 cents.

That is, we found that in 200 200 pesos there are 20,000 20,000 cents.


Do you know what the answer is?

Example 3

How many Mexican peso cents are there in 200 200 dollars?

Let's assume the exchange rate is 1 1 dollar to 17.50 17.50 Mexican pesos.

Solution:

This question requires us to use two different currencies, therefore, we must convert them using the exchange rate.

Let's calculate:

Given that 1 1 dollar is worth 17.50 17.50 Mexican pesos, if we want to know how many pesos are 20 20 dollars we must multiply each dollar by the exchange rate. We will obtain:

20×17.50=350 20\times17.50=350

So far, we have that 20 20 dollars are 350 350 Mexican pesos, now we need to calculate how much is 350 350 pesos in cents.

We know that:

1 1 peso =100 =100 cents.

Therefore:

350350 pesos =350 =350 × \times 100 100 cents =35,000 =35,000 cents.

That is, we found that 20 20 dollars are 35,000 35,000 cents.


Review Questions

What is a currency unit?

It is a unit with a value, that is, a currency that has a value with which you can exchange some goods or objects for the same value of the currency.


How is currency exchange calculated?

To make some changes from one currency to another we must know their equivalences of each one, that is, of the peso, dollar, and euros which are the most common:

For example

One dollar =17.50 =17.50 pesos

One Euro =18.73 =18.73 pesos

It is worth remembering that these values are always changing.


How many pesos are there in 35 35 dollars?

Solution

As we well know one dollar =17.50 =17.50 pesos, then it is only necessary to multiply the number of dollars by 17.50 17.50

35×17.50 35\times17.50 pesos =612.50 =612.50 pesos

Answer

So there are =612.50 =612.50 pesos in 35 35 dollars.


Which currencies have more value?

As we said, the most common currencies are the peso, dollar, and euro, and of them, the one with the highest value is the Euro with 18.73 18.73 pesos.


Examples and exercises with solutions of monetary units

Exercise #1

200 cents = ? $

Video Solution

Answer

2 2

Exercise #2

370 cents = ? $

Video Solution

Answer

3.7 3.7

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