Members of a school council have raised ₹70,500. They plan to setup a Maths Lab with some games and models worth ₹39,785, buy library books worth ₹9,545, and purchase sports equipment worth ₹19,548.
Estimate whether the school council has raised enough money to make the purchases. Share your thoughts in the class.
Estimated total: ₹40,000 + ₹10,000 + ₹20,000 = ₹70,000. Since ₹70,500 is available, they appear to have just enough money.
Check your estimate with calculations.
Actual total: ₹39,785 + ₹9,545 + ₹19,548 = ₹68,878. Money raised: ₹70,500. Extra money: ₹70,500 - ₹68,878 = ₹1,622. Yes, they have enough money with ₹1,622 extra.
Explanation
(a) Estimation helps quickly check if funds are sufficient. Rounding to nearest thousand gives a close approximation. (b) Exact calculation confirms the estimate. The council has sufficient funds with some money left over.