Multiplying money is same as multiplying whole numbers.
Follow these steps to multiply money.
Let's go through few examples to understand better.
$38.52 x 8
Ignore the decimal point and start by multiplying 3852 and 8.
Now, count the number of digits to the right of the decimal point of both the numbers.
$38.52 has two decimal places, while 8 has none. So, we have 2 decimal places in all .
Place the decimal point in the answer by starting at the right and moving 2 places to the right.
$38.52 x 8 = $308.16
It costs $1.35 for a slice of pizza, and Brandon wants to buy 5 slices for himself and his friend. How much will this cost?
Ignore the decimal point and start by multiplying 135 and 5.
Now, count the number of digits to the right of the decimal point of both the numbers.
$1.35 has two decimal places, while 5 has none. So, we have 2 decimal places in all .
Place the decimal point in the answer by starting at the right and moving 2 places to the right.
So, the total cost of 5 slices of pizza is $6.75
Veronica makes $9.85 an hour at her new job. If she works 12 hours this week, how much money will she earn?
Ignore the decimal point and start by multiplying 985 and 12.
Now, count the number of digits to the right of the decimal point of both the numbers.
$9.85 has two decimal places, while 12 has none. So, we have 2 decimal places in all .
Place the decimal point in the answer by starting at the right and moving 2 places to the right.
So, Veronica earns $118.20 this week.