Money Conversion

PRE test

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Problem of the lesson

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You want to buy Lays chips from vending machine, which costs AED 2. You inserted AED 5 note and received 6 coins of 50 fils. Did you get right amount of money back? What makes you say that?

​Deduce and apply the conversion of money from Dirhams to fils and fils to dirhams and fils to solve real world problems.

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WALT

VOCABULARY

•Money

•Currencies

•Dirhams

•Denominations

• fils

• notes

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Denomination of currency notes or coin denotes the value of the note or the coin.

How do we understand the denominations?

•You must recall how we learnt about numbers and their place values. Place values like units, tens, thousands, ten thousands, lakhs and so on. The denominations of numbers are counted in the same way. Currency notes or coins can be in units, tens, or hundreds, or thousands. So, if you have a thousand rupee note, it is equivalent to the thousands place value.

•AED 1, AED 10, AED 100 are all similar to the place values of Units, Tens and Hundreds respectively. This will help you operate with money. 

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