Here is £5 in pound coins.
This is 5 × 100p = 500p.
Here is 50 pence in silver coins.
There are two 20p coins and one 10p coin.
This is 2 × 20p + 1 × 10p = 40p + 10p = 50p.
Here is 4 pence in penny coins.
This is 4 x 1p = 4p.
Altogether, we have 500p + 50p + 4p = 554p.
This is also £5.54.
We say that:
£5.54 is the same as 554p.
Let's have a go at some questions on money.