Making Change

Front

What is making change in a financial transaction?

Back

Making change refers to the process of returning the correct amount of money to a customer after a purchase, based on the amount they paid and the cost of the item.

Front

If you have $10 and buy an item for $4, how much change do you receive?

Back

$6

Front

What is the formula to calculate change?

Back

Change = Amount Paid - Cost of Item

Front

If a customer pays with a $20 bill for an item costing $15.75, how much change do they get back?

Back

$4.25

Front

What is the importance of making change accurately?

Back

Accurate change ensures customer satisfaction, maintains trust, and prevents financial discrepancies.

Front

If you buy a drink for $2.50 and pay with a $5 bill, how much change do you receive?

Back

$2.50

Front

What do you do if you do not have enough change to give back?

Back

You can ask the customer if they have a smaller bill or provide an alternative solution, such as rounding the price.

Front

If an item costs $3.75 and you pay with a $10 bill, how much change will you receive?

Back

$6.25

Front

What is the significance of understanding how to make change?

Back

Understanding how to make change is essential for financial literacy, budgeting, and everyday transactions.

Front

If you have $5 and buy a snack for $1.50, how much change do you get?

Back

$3.50