We will discuss here about the multiplying money. Bigger amounts of money are multiplied in the same way as we multiply ordinary numbers. We multiply the amount without considering decimal point and then place the decimal point in product at the same place where it is placed in the multiplicand.
Let us consider some of the examples on multiplication of money.
1. Multiply $ 25.21 by 12
We multiply 2521 by 15 as usual. Then we place the decimal point after two digits from the extreme right in the product as it is placed in the multiplicand $ 25.21.
The product is $ 378.15.
2. Multiply $ 48.25 by 32.
The decimal point is placed after two digits from the extreme right in the product as it is placed in the multiplicand $ 48.25.
The product is $ 1544.00.