Free Money 01 Practice Test - 4th Grade 

Question 1

Long before the invention of money, when people wanted to get things they needed but did not have, they____. 

A.

donated

B.

pleaded

C.

bartered

D.

gave up

SOLUTION

Solution : C

Long before money was invented, when people needed things they did not have, they exchanged their goods and services with others for their goods and services in return . We call it the Barter system.

Question 2

Which is not an example of Barter system?

A.

Buying a pair of jeans for ₹ 1200

B.

Trading a football for a jersey

C.

Ted exchanging a cookie with Manu for a sticker.

D.

Ria gives her pretty seashell in exchange for a frisbee.

SOLUTION

Solution : A

Barter system does not involve money. It only involves trading of goods and services.

Question 3

If 4 dresses can be bought with 8 tokens, how many dresses can be purchased with 2 tokens?

A.

3

B.

2

C.

1

D.

4

SOLUTION

Solution : C

Given that
With 8 tokens, we can buy 4 dresses.

∴ 2 tokens can purchase (2×48) dresses
=88=1 dress
∴ 1 dress can be purchased with 2 tokens.

Question 4

Manu has only ₹ 1 and ₹ 2 coins. If he wants to buy a notebook that costs ₹ 23, what is the least number of coins he needs ?

A.

B.

C.

D.

SOLUTION

Solution : D

Options B,C and D make ₹23.

Option B: Ten ₹2 coins + Three ₹ 1 coins = 20 + 3 = ₹23 - number of coins used =13

Option C: Nine ₹2 coins + Five ₹ 1 coins = 18 + 5= ₹23 - number of coins used =14

Option D: Eleven ₹2 coins + One ₹ 1 coin = 22 + 1 = ₹23 - number of coins used =12

Hence, we use the least number of coins in option D, that is 12.

Question 5

2000 paise - ₹6.50 = ___

A.

₹ 13.50

B.

₹ 14.00

C.

1994 paise

D.

1350 paise

SOLUTION

Solution : A and D

100 paise = ₹ 1.00

∴ 2000 paise = ₹ 20.00

⇒2000 paise - ₹6.50 = ₹ 20.00 - ₹6.50 = ₹ 13.50

₹1 = 100 paise

Hence ₹ 13.50 is also = 13.50×100 = 1350 paise

Question 6

₹ 135.75 = ___ paise

A.

1357.5

B.

13.575

C.

13575

D.

13.0575

SOLUTION

Solution : C

₹ 1.00 = 100 paise

∴ ₹ 135.75 = (135.75 × 100) paise = 13575 paise

Question 7

The symbol for the Indian Rupee is ____.

A.

Rs

B.

Re

C.

₹

D.

Mn

SOLUTION

Solution : C

The Indian Rupee is represented by the symbol ₹.

Question 8

Manu goes to the book shop with ₹ 250. He buys comics for ₹ 155 and a diary for ₹ 38. How much money does he have now?

A.

₹ 57

B.

₹ 30 

C.

₹ 75

D.

₹ 87

SOLUTION

Solution : A

Manu has ₹ 250.

He spends ₹ 155 on comics and  ₹ 38 on a diary. Total amount spent by Manu = 155 + 38 = ₹ 193

∴ Money left with Manu = 250 - 193 = ₹ 57

Question 9

One litre of juice costs ₹ 56.00. How much juice will I get if I pay 56000 paise?

A.

100 litres

B.

10 litres

C.

560 litres

D.

20 litres

SOLUTION

Solution : B

100 paise = ₹ 1

∴ 56000 paise= 56000100= ₹ 560 

As per the question

One litre of juice costs ₹ 56.00.

So, with ₹ 560, 10 litres of juice can be bought.

Question 10

Zoya had ₹200 with her. She buys two tickets for her friend and herself for a play. The amount left with her now is ₹30. Find the cost of one ticket.

A.

₹30

B.

₹60

C.

₹65

D.

₹85

SOLUTION

Solution : D

Money Zoya had = ₹200

Change left with Zoya after purchasing two tickets = ₹ 30

⇒  Zoya spent on two tickets = Money Zoya had - Change left
=₹200 - ₹30
= ₹170

∴ Cost of one ticket = 170 ÷ 2 = ₹85

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