Money word problems worksheet for students to solve real-life financial scenarios.

Here are the step-by-step solutions for the money word problems:

1. John had $42.50 more than Jack who has $22.30. How much money does John have?

* Step 1: Identify what we know. Jack has $22.30. John has $42.50 *more* than that.
* Step 2: To find out how much John has, we need to add the extra amount to Jack's amount.
* Calculation: $22.30 + $42.50
* Add the cents: 30 + 50 = 80
* Add the dollars: 22 + 42 = 64
* Total: $64.80

2. Henry had $31.80 and then bought ice-cream for $27.50. How much has he left?

* Step 1: Identify what we know. Henry started with $31.80. He spent $27.50.
* Step 2: To find out what is left, we subtract the cost of the ice-cream from his starting money.
* Calculation: $31.80 - $27.50
* Subtract the cents: 80 - 50 = 30
* Subtract the dollars: 31 - 27 = 4
* Total: $4.30

3. Chris has $73.60. He needs $94.20 to buy some revision books. How much more money does he need to buy them?

* Step 1: Identify what we know. The goal is $94.20. Chris currently has $73.60.
* Step 2: To find the difference (how much more is needed), we subtract what he has from the total cost.
* Calculation: $94.20 - $73.60
* Let's look at the cents first: We cannot take 60 from 20. So, we borrow 1 dollar from the 94.
* Now we have 120 cents - 60 cents = 60 cents.
* Now look at the dollars: Since we borrowed 1, the 94 becomes 93.
* 93 dollars - 73 dollars = 20 dollars.
* Total: $20.60

Final Answer:
1. $64.80
2. $4.30
3. $20.60