Money and Making Change
Grade 3 · Math · Study Guide
Learn to count coins and bills and calculate change from purchases.
Money math is one of the most useful skills you will ever learn! In the United States, we use dollars and cents. 100 cents = 1 dollar. The coins we use most often are the penny (1 cent), nickel (5 cents), dime (10 cents), and quarter (25 cents).
To count a mix of coins, start with the largest coin value and work down. For example: 2 quarters + 1 dime + 3 pennies = 50 + 10 + 3 = 63 cents, or $0.63.
Making change means figuring out how much money you get back when you pay more than the cost. There are two strategies. Count up: if something costs $1.35 and you pay $2.00, count up from $1.35 to $2.00. 1.35 → 1.40 (nickel) → 1.50 (dime) → 2.00 (two quarters) = 65 cents change. Subtract: $2.00 − $1.35 = $0.65.
Always write dollar amounts with a decimal point and two digits after it: $1.07, not $1.7. The decimal separates dollars from cents.
| Coin | Value | How many make $1.00? |
|---|---|---|
| Penny | 1 cent | 100 |
| Nickel | 5 cents | 20 |
| Dime | 10 cents | 10 |
| Quarter | 25 cents | 4 |
Key terms
- Penny
- 1 cent ($0.01)
- Nickel
- 5 cents ($0.05)
- Dime
- 10 cents ($0.10)
- Quarter
- 25 cents ($0.25)
- Making change
- The amount of money returned when you pay more than the price.
- Decimal point
- The dot separating dollars from cents in a money amount.
Flashcards
- Penny
- $0.01 — 1 cent
- Nickel
- $0.05 — 5 cents
- Dime
- $0.10 — 10 cents
- Quarter
- $0.25 — 25 cents
- Making change (subtract)
- Amount paid − price = change. Ex: $2.00 − $1.35 = $0.65
- 4 quarters = ?
- $1.00
Practice questions
What is the total value of 3 quarters and 2 dimes?
- $0.85
- $0.95
- $0.75
- $1.05
Show answer
Answer: $0.95
3 quarters = 75 cents + 2 dimes = 20 cents. Total: 95 cents = $0.95.
A toy costs $0.87. You pay $1.00. How much change do you get?
- $0.03
- $0.13
- $0.23
- $0.17
Show answer
Answer: $0.13
$1.00 − $0.87 = $0.13 change.
4 quarters equal exactly $1.00.
Show answer
Answer: True
4 × 25 cents = 100 cents = $1.00.
2 dimes and 3 nickels = ___ cents.
Show answer
Answer: 35
2 dimes = 20 cents + 3 nickels = 15 cents. Total: 35 cents.
A juice box costs $1.25. You pay $2.00. What is your change?
- $0.50
- $0.65
- $0.75
- $1.25
Show answer
Answer: $0.75
$2.00 − $1.25 = $0.75 change.
Fun facts
- The Abraham Lincoln penny has been in use since 1909 — it's one of the oldest coin designs still in circulation in the US!
- If you have 3 quarters, 1 dime, 1 nickel, and 4 pennies, you have exactly 94 cents — almost a dollar!
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