G9- MONEY PROBLEMS

Multiple Choice

Which of the following is an example of a financial concept that might be found in scripture?

• Saving for the future

• Photosynthesis

• Gravity

• The water cycle

Open Ended

How do you think understanding financial concepts in scripture can influence personal financial decisions today?

Multiple Choice

Which Bible verse warns against covetousness and teaches that life does not consist in the abundance of possessions?

• Luke 12:15

• 2 Corinthians 9:7

• Proverbs 22:7

• Matthew 6:20

Open Ended

How do the verses in images 0 and 1 together shape our understanding of generosity and materialism?

Multiple Choice

According to Proverbs 22:7, what is the relationship between the borrower and the lender?

• The borrower is the slave of the lender

• The lender is the slave of the borrower

• They are equal partners

• The borrower is richer than the lender

Fill in the Blanks

For where your treasure is, there your

will be also.

Open Ended

How might the biblical principles from the first four images influence your approach to solving real-world money problems as described in the objectives?

Multiple Select

Which of the following are objectives for this lesson?

• Apply percent equations to solve real-world problems involving tips, commission, markups, and discounts

• Solve real-world problems involving simple interest

• Memorize Bible verses

• Learn about ancient currencies

Open Ended

Explain why human judgment is still required even when mathematical formulas are used to solve real-world money problems.

Multiple Choice

Which formula is used to calculate the retail price after a markup is added to the cost?

• cost + markup = retail price

• markup = markup rate × cost

• cost × markup rate = retail price

• retail price - cost = markup

Multiple Select

Which of the following are correct definitions according to the lesson?

• Cost: the amount a merchant pays for merchandise

• Markup: the amount added to cost to arrive at the retail price

• Markup Rate: the markup expressed as a percent of the cost

• Retail Price: the merchant’s cost plus markup; the regular price for customers

Fill in the Blanks

The formula for calculating markup is: markup =

× cost

Open Ended

Tom & Harry’s Sporting Goods marks up all clothing 75%. If the merchant paid $15 for a shirt, what is the retail price?

Multiple Choice

A store buys a backpack for $48 and marks it up 40%. What is the retail price?

• $67.20

• $19.20

• $53.20

• $68.00

Multiple Choice

A video game console costs a retailer $300. If the markup is $120, what is the markup rate?

• 40%

• 25%

• 30%

• 50%

Open Ended

Explain the difference between discount rate and discount using your own words.

Multiple Choice

Which of the following formulas can be used to calculate the sale price?

• Sale Price = Retail Price - Discount

• Sale Price = Discount Rate × Retail Price

• Sale Price = (1 + Discount Rate) × Retail Price

• Sale Price = Retail Price + Discount

Multiple Choice

Paulo saved $52.50 during a 30% off sale on a tennis racquet. What was the retail price, and how much did he pay?

• Retail price = $175, Sale price = $122.50

• Retail price = $150, Sale price = $97.50

• Retail price = $200, Sale price = $147.50

• Retail price = $175, Sale price = $150

Fill in the Blanks

A jacket with a retail price of $120 is on sale for 25% off. What is the sale price?

Multiple Choice

A laptop originally priced at $800 is reduced by $160. What is the discount rate?

• 20%

• 10%

• 15%

• 25%

Multiple Choice

Which of the following best describes a commission?

• A percentage of the bill paid for a personal service

• The dollar amount an employee receives as a result of sales made

• The percent used to determine a tip or commission

• The total amount paid for a service

Fill in the Blanks

The formula for calculating a tip is tip = tip rate ×

.

Multiple Choice

If a family's restaurant bill is $56.40 and they leave an 18% tip, what is the amount of the tip?

• $10.15

• $9.85

• $8.75

• $12.00

Open Ended

Explain how you would calculate the commission earned by an employee if you know the sales amount and the commission rate. Why is it important to understand this calculation in real life?

Multiple Select

Which of the following formulas are correct based on the lesson?

• tip = tip rate × bill

• commission = commission rate × sales

• interest = principal × rate × time

• tip = bill × commission rate

Multiple Choice

A loan of $7,500 earns $1,125 interest in 2 years. What was the interest rate?

• 6%

• 7.5%

• 8%

• 12%

Open Ended

How do financial concepts in scripture relate to modern financial principles?

Open Ended

What is one key idea you learned about solving equations in this lesson?