1. What is Relative Price?

Relative Price compares the cost of two different toys, helping kids understand value relationships between items. It shows how many times more expensive one toy is compared to another.

2. How Does the Calculator Work?

The calculator uses the Relative Price formula:

Where:

• Cost of Toy A — Price of the first toy in any currency
• Cost of Toy B — Price of the second toy in the same currency

Explanation: The result shows how many Toy Bs you could buy for the price of one Toy A, or how many times more expensive Toy A is compared to Toy B.

3. Importance of Relative Price Calculation

Details: Understanding relative prices helps children develop financial literacy, comparison shopping skills, and basic mathematical concepts of ratios and proportions.

4. Using the Calculator

Tips: Enter the cost of both toys in the same currency. Toy B's cost must be greater than zero. The calculator will show the relative price ratio.

5. Frequently Asked Questions (FAQ)

Q1: What does a relative price of 2 mean?
A: A relative price of 2 means Toy A costs twice as much as Toy B.

Q2: Can I use different currencies?
A: No, both prices must be in the same currency for an accurate comparison.

Q3: What if the relative price is less than 1?
A: A relative price less than 1 means Toy A is cheaper than Toy B.

Q4: How can this help teach kids about money?
A: It helps children understand value comparison, budgeting, and making informed spending decisions.

Q5: Can this be used for comparing more than two items?
A: This calculator compares two items at a time, but you can perform multiple comparisons to evaluate several toys.