Currency - Examples, Exercises and Solutions

Understanding Currency

Complete explanation with examples

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.

A1 - Monetary units

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.


Detailed explanation

Practice Currency

Test your knowledge with 3 quizzes

\( x^2 \) Cents = ____ Dollars

Examples with solutions for Currency

Step-by-step solutions included
Exercise #1

Convert dollars to cents:

0.18 $ =? cents

Step-by-Step Solution

In order to answer this question, one must understand that one dollar is equivalent to 100 cents.

Therefore, one dollar is 0.01 cents.

0.18 dollars, therefore, is 18 cents.

You can also achieve this if we multiply by 100.

0.18*100=18

Answer:

18 18

Video Solution
Exercise #2

How many cents are in 5.7 $?

Step-by-Step Solution

Answer:

570 570

Video Solution
Exercise #3

Write \( 5\frac{1}{4} in terms of cents.

Step-by-Step Solution

Answer:

525 525

Video Solution
Exercise #4

200 cents = ? $

Step-by-Step Solution

Answer:

2 2

Video Solution
Exercise #5

370 cents = ? $

Step-by-Step Solution

Answer:

3.7 3.7

Video Solution

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