Multiplying Money

The power of multiplying money is a basic yet crucial mathematical skill. In this article, we’ll show you how to multiply numbers that have more than one digit by using a relatively simple method. Note that if you want to multiply single digit numbers, there are algorithms that are particularly fast. However, for numbers with more than one digit.

Money multiplying is a math technique where we can expand the value of money by multiplying it together. Money multiplying uses the same rules as multiplication: we start with the larger number and put it first, and then we use the multiplication table to find out how much this product is worth.

Follow the Basic Steps to Money Multiplying

Money Multiplying tips

If you know the basics of multiplying, then multiplying money will be easy for you just one more extra step.

  • First, you multiply the numbers just like normal, as if the decimal point wasn’t there
  • When multiplying money, always place the larger number (the one with more digits) on top and the smaller number (the one with fewer digits) on the bottom.
  • After you have added the decimal point, you need to round out the answer. Adding decimals is tricky. Multiply the numbers you multiplied by the decimal places. Put that number of decimal places in your answer.

Let’s try some money multiplying examples:

  • Example 1

$4.33 x $3.1 = ?

Ignore the decimal and just multiply the numbers(image 1) 433 x 31 and you will get.

Multiplying money example image1
image 1

In $4.33, there are two decimal places, and in $3.1, there is one. That makes a total of 3 decimal places. Then we add three decimal places to 134.23 and we get:

Multiplying money example image2
image 2

$4.33 x $3.1 = 134.23

  • Example 2

A mango costs $1.55 and Jack wants to buy 6 mangoes for his family.How much will this cost?

Follow the basics of multiplying money, ignore the decimal and start multiplying.

Multiplying money example 2 image 1

155 x 6 = 930

After counting the digits to the right of the decimal point, add them together. $1.55 has two decimal places, whereas 6 has none. In total, there are two decimal places. Start at the right and move two places to the right to place the decimal point in the answer.

Multiplying money example 2 image 2

$1.55 x $6 = 9.30

  • EXAMPLE 3

We are asked to money multiply $32.12 x $0.5. 

Now when you multiply the decimal multiply them the exact same way you would multiply a whole number and then you count the number of spaces behind the decimal you have in your two numbers you’re multiplying.

We have 32.12 x 0.5 

Ignore the decimal and multiply them and we get 

Multiplying money example 3 image 1

3212 x 05 = 16060

In $32.22, there are two decimal places, and in $0.5, there is one. That makes a total of 3 decimal places. Then we add three decimal places to 16060 and we get:

Multiplying money example 3 image 2

$32.22 x $0.5 = 160.60

How do you multiply money in decimals?

To multiply decimals, start by multiplying without a decimal. Following that, count how many digits each factor has after the decimal. As a final step, put the same number of digits in front of the decimal

Conclusion

I hope this guide has helped you learn how to multiply money by identifying the things which are most important for you to focus on. I’ve also included some great resources for you to learn more about how to make money. It’s okay if you’re not ready yet, but it’s never too soon to start planning your journey to financial success.

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