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DECIMAL CURRENCY.

141. Currency is a term applied to all kinds of money in circulation, both coin and paper.

The legal currency of the United States is a decimal currency, and is sometimes called Federal money.

1

DOLLAR
1884

142. The unit of United States money

is the dollar; and dimes, cents, and mills
are respectively tenths, hundredths, and thou-
sandths of the unit.

STA

AMERICA

The legal coin of the United States is as follows: gold, the doubleeagle, eagle, half-eagle, quarter-eagle, three-dollar, and one-dollar pieces; silver, new currency-dollar, half-dollar, quarter-dollar, and ten-cent pieces; nickel, the five-cent and three-cent pieces; bronze, one-cent. The trade-dollar, used for commercial purposes, weighs 420 grains. The new currency-dollar of 1878 weighs 412 grains.

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143. In business transactions, cents are often written as fractions of a dollar; and the half-cent either as a fraction (1) or as 5 mills.

Thus, $7.42 may be written, $74; 371 cents, $.371 or $ 375.

Generally, in business calculations, if in the final result the mills are less than 5 they are not regarded; if 5 or more than 5, they are considered

a cent.

Thus, $6.424 would be called $6.42, and $6.426 would be called $6.43. This usage will generally be adopted in the answers to examples in this book.

144. To change cents to mills, multiply by 10; dollars to cents, multiply by 100; dollars to mills, multiply by 1000, omitting the sign $, and writing cts., or m., after the result.

Thus, $.36 = 36 cts.; $8 = 800 cts., or 8000 m.

145. To change mills to cents, divide by 10; cents to dollars, divide by 100; mills to dollars, divide by 1000, and prefix the sign to the result.

Thus, 740 mills

=

$.74; 645 cents =

$6.45; 4200 mills =

$4.20.

Since the dollar is the unit, of which cents are hundredths, and mills are thousandths, it follows that

146. All the operations in DECIMAL CURRENCY are the same as the corresponding operations in DECIMALS.

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147. 1. How many tenths in 2 units? In 5 units?
2. How many tenths in 20 hundredths? In .40?
3. How many hundredths in 2 units? In 4 units?
4. How many hundredths in 200 thousandths?

5. How many hundredths in 5 tenths? In .6 ? .7? .8?
6. How many thousandths in .06? In .25? .48? .75 ?
7. How many hundredths in .150? In .260? In .2500?
8. In 400 thousandths how many hundredths? Tenths?
9. How many tenths of a dollar in $6? Hundredths?
10. Change 4 dollars 50 cents to cents. To mills.

11. How many dollars are 300 cents? 540 cents?

12. How many cents are 2600 mills? Dollars?

13. How are thousandths changed to hundredths? Hundredths to tenths? Tenths to units?

14. How are units changed to tenths? Tenths to hundredths? Hundredths to thousandths?

15. Express decimally 7 cents; 8 cents; 9 cents.

16. Express decimally 5 mills; 6 mills; 6 cents 6 mills; 14 cents 5 mills; 22 cents 7 mills.

17. What part of a dollar is 9 cents? 12 cents? 24 cents? 48 cents? 50 cents? 75 cents?

18. Change .5 to hundredths. To thousandths.

19. Change .4 and .05 to thousandths; .07 and .01. 20. Change .5000 to thousandths.

tenths.

To hundredths.

21. What is a common denominator of .3 and .05?

To

22. Change .2, .04, and .005 to equivalent decimals having a common denominator. .15, .6, and .125. .

How are decimals reduced to a common denominator?

23. Change .5, .08, and .023 to equivalent decimals, having a common denominator of 1000. .7, .007, and .091.

24. How many halves in? In 25. How many fifths in? In

Also, .14, .009, and .6.

500

? In OD? ?? .6?

26. How many fourths in? In .50? In .75?
27. How many twentieths in 10? In 15? In .20?

28. In .50 how many halves?
29. How many fourths in .25?
30. How many eighths in .40?

00

Fourths? Tenths?
In .75?

In .80? In 1.20?

How is a decimal changed to the form of a fraction?

31. How many tenths in ? How many hundredths? How many thousandths?

32. How many tenths in ? Hundredths in ? In ?

33. How many hundredths in? In ? In?

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34. How many cents in
35. How many mills in
How is a fraction changed to the form of a decimal ?

of a dollar? In ? In ?

of a dollar? In ? In ?

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19. Reduce .7, .05, and .304 each to hundred-thousandths. (139.)

20. Reduce 2.5, .107, and .0008 each to ten-thousandths. 21. Change 4, 2.17, .136, and .0408 to equivalent decimals having a common denominator.

22. Change .375 to an equivalent fraction.

EXPLANATION.-The numerator is 375,

the denominator 1000, and the decimal ex

.375 = 375 = 1000 ૐ.

pressed as a fraction is 375 . Hence, .375 1000

=

Change to equivalent fractions in lowest terms :

23. .16. [ 26. $.75.

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29. .024.

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27. $.375.

30. .5625.

33. .0008.

31. .3125.

25. .625. 28. $.655.

34. .9375.

35. Express by an integer and common fraction 8.25.

36. Express by an integer and common fraction $12.75; 25.005; $36.125.

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The sign + is sometimes placed after the result to indicate that there is still a remainder. Thus, = .666+, or .6663.

ADDITION AND SUBTRACTION.

INDUCTIVE

EXERCISES.

149. 1. What is the sum of 3 tenths and 6 tenths? Of and? Of.6 and .4?

2. What is the sum of

Of .3, .4, and .5?

and? Of .07 and .12? 3. What is the sum of 16 tenths and 9 tenths? The difference?

4. What is the sum of 45 hundredths and 3 tenths? The difference?

5 10

0

5. What is the sum of 3 and To? Of .06 and .009? 6. What is the difference between and ?and .8? 7. Find the sum of and 4 expressed decimally; of 1 and 6. 8. Find the difference between 5 and expressed decimally; between $.75 and $.5; $2 and $.25.

9. Find the sum of $2.5, $3, and $.6.

$.7 or $3? $ or $.75?

10. Which is greater, $.35 or $?
11. Which is greater, 30 cts. or $.3? $% or 40 cts.?

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