Lydia Lois Beardy Memorial Secondary School
Practice Test
Unit 1: Developing and Consolidating Money Sense
Practice Test
Knowledge.
1. Fill in the blanks. (3 marks)
23. 65
_______________
_______________
_________________
2. What number must we write when the whole part is equal to zero? Give an example to
illustrate your reason. (2 marks)
3. What point do we used to write the correct place value of money? Give examples to
illustrate your reasoning (5 mark)
Inquiry
4. Re-write the following money into words. (5 marks)
a. $0.32
b. $1.45
c. $12.34
d. $120.08
e. $1, 200.37
5. Which symbol do we used to represent thousand dollars? Give an example. (1 mark)
6. Re-write the following money. (4 marks)
a. $12, 000, 000
b. $1l4, 345, 000
c. $23, 342, 000
d. $56, 045, 000
Communication
7. Give at least three reasons why we round money in everyday life. Provide an example
for each. (3 marks)
8. Round the following money. (5 marks)
a. To the nearest cents: $1.34 cents =
b. To the nearest dollar: $12.68 =
c. To the nearest ten dollars: $84.34 =
d. To the nearest hundred dollars: $536.18 =
e. To the nearest million dollars: $23, 989, 345 =
9. Explain the difference between estimate and correct change of money. Provide an
example (2 marks)
Application
10. Make the calculation easy by rounding the prices. Do not use a calculator. (4 marks)
a. $36.40 + $2.56 + $0.23 to the nearest dollar
b. $100.60 - $21.80 - $6.45 to the nearest ten dollars
c. $8.56 × 5 to the nearest ten dollar
d. $89.37 ÷ 10 to the nearest hundred dollar
11. Make a correct change of money for a $894.45 Parka, $135.23 Sorel Boots, and $145.22
winter apparels. How much will it costs to buy these items for 12 students? Use a
calculator. Show your work. (3 marks)
12. A MacBook Pro costs $1, 238.34. There are 12 math students in MAT 1L here at
LLBMSS. Calculate the difference between the estimated costs rounded to the nearest
hundred dollars and the correct change of money. Use a calculator. Show your work. (3
marks)