MONEY

Back to: Mathematics Primary 2

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Uses of Money:

1. Money is a medium of exchange.
2. It is used for buying goods and services
3. It is used to store value.

 

The units for money in Nigeria are Naira and kobo. The symbol of naira is ₦. While that of kobo is K. Like we learnt in previous term, some of the currency exists as notes while others exist as coins. However, the coins are no longer in circulation. The following denomination exists as notes

₦1000

₦500

₦200

₦100

₦50

₦20

₦10

₦5

 

100k = ₦1 and ₦1 is equivalent to 100k.

So, ₦5.00 = 500k

 

₦3.70 = 370k

₦10.50 = 1050k

Example

Change 126k to Naira           = ₦1. 26

Change 1926k to Naira                   = ₦19.26

 

Change ₦3.40 to kobo = 340k

Change ₦14.95 to kobo        = 1495k

 

ACTIVITY

Change the following to Naira

100k                              202k                              750k

320k                              1180k                            178k

600k                              178k                              1098k

 

Change the following to kobo

₦1.30                            ₦8.20                            ₦10.40

₦2,56                            ₦5.37                            ₦10.90

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