What is Change Given (Subtraction)? | Simple Explanation for Class 3

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What is Change Given (Subtraction in Commerce)?

Grade Level:

Class 3

Maths, Finance, Economics

Definition

What is it?

Change Given in commerce means the money you get back after buying something, when you pay more than the actual price. It's like finding the difference between the money you paid and the actual cost of the item using subtraction.

Simple Example

Quick Example

Imagine you buy a packet of your favourite biscuits for ₹20. You give the shopkeeper a ₹50 note. The money the shopkeeper gives back to you is the 'change given'.

Worked Example

Step-by-Step

Let's say you buy a new cricket ball for ₹75. You give the shopkeeper a ₹100 note.
---Step 1: Identify the total money paid: ₹100.
---Step 2: Identify the cost of the item: ₹75.
---Step 3: To find the change given, subtract the cost from the money paid: ₹100 - ₹75.
---Step 4: Perform the subtraction.
100
- 75
-----
25
---Answer: The change given is ₹25.

Why It Matters

Understanding change given is super important for managing your everyday money, whether you're buying snacks or saving up. It helps shopkeepers give the correct amount back and helps customers check if they received the right change. This skill is vital for jobs like cashier, shop owner, and even in banking.

Common Mistakes

MISTAKE: Subtracting the money paid from the cost of the item (e.g., ₹75 - ₹100) | CORRECTION: Always subtract the smaller amount (cost) from the larger amount (money paid).

MISTAKE: Forgetting to carry over or borrow correctly during subtraction, especially with zeros | CORRECTION: Practice subtraction with numbers like 100, 200, 500 to master borrowing.

MISTAKE: Not checking the change received at all | CORRECTION: Always quickly calculate the expected change in your head and count the money the shopkeeper gives you.

Practice Questions

Try It Yourself

QUESTION: You buy a samosa for ₹15 and pay with a ₹20 note. How much change should you get? | ANSWER: ₹5

QUESTION: Your mom buys vegetables worth ₹138 and gives the vendor a ₹200 note. What is the change given? | ANSWER: ₹62

QUESTION: A book costs ₹245. You give the bookseller a ₹500 note. The bookseller gives you two ₹100 notes and one ₹5 note. Is the change correct? If not, how much more or less should you get? | ANSWER: No, the change is not correct. You should get ₹255. The bookseller gave ₹205, so you should get ₹50 more.

MCQ

Quick Quiz

You buy a pen for ₹18 and give the shopkeeper a ₹50 note. What is the correct change given?

₹22

₹32

₹68

₹50

The Correct Answer Is:

The correct change is found by subtracting the cost of the pen (₹18) from the money paid (₹50). ₹50 - ₹18 = ₹32. Options A, C, and D are incorrect calculations.

Real World Connection

In the Real World

Every time you pay cash at a kirana store, a railway ticket counter, or even a local chai stall, you're dealing with 'change given'. Cashiers use this concept constantly. Even when using digital payments like UPI, you still mentally calculate if the amount deducted is correct.

Key Vocabulary

Key Terms

CHANGE: Money received back after paying more than the cost | COST: The price of an item | PAID: The total money you give to the seller | SUBTRACTION: The mathematical operation of finding the difference

What's Next

What to Learn Next

Now that you understand change given, you can explore concepts like profit and loss, and simple interest. These build on your understanding of money calculations and how businesses work, which is super useful for your future!