4th Grade PFL Review

Trina lives in an apartment. The table shows some of the expenses that Trina paid for three months to live in the apartment. Which expenses were variable expenses for Trina during these three months?

• water and electricity only

• rent, water, and electricity

• rent and cable tv only

• cable tv only

Answer explanation

variable expenses are expenses that change from month to month

Trina lives in an apartment. The table shows some of the expenses that Trina paid for three months to live in the apartment. Which expenses were fixed expenses for Trina during these three months?

• water and electricity only

• rent, water, and electricity

• rent and cable tv only

• cable tv only

Answer explanation

fixed expenses are expenses that do not change from month to month

The table shows the amounts Sheldon and Jenna paid for electricity in their apartments each month for the last six months. Based on the table, which statement is true about the amounts Sheldon and Jenna paid for electricity during these six months?

• only Sheldon's electricity was a fixed expense

• only Jenna's electricity was a fixed expense

• Both Sheldon and Jenna's electricity were variable expenses

• Both Sheldon and Jenna's electricity were fixed expenses

Answer explanation

Since the amount Sheldon paid was the same each month, his expense is fixed. Since Jenna's amount changed each month, her amount is variable.

Some people borrow money to buy cars. They have to make car payments to pay back the money they borrowed. What kind of expenses are most car payments?

• variable expenses, because the amount changes every month

• variable expenses, because the payment is not due every month

• fixed expenses, because the amount is usually the same every month

• fixed expenses, because the car is usually paid for after one month

Ms. Lanford buys and sells used clothing. Ms. Lanford bought a dress, a sweater, and shorts for a total of $12.00. She then sold each item for the price shown on the list to the left. What was Ms. Lanford's total profit from selling the dress, sweater, and shorts?

• $12.00

• $56.50

• $32.50

• $44.50

Answer explanation

To calculate profit, you subtract the amount she originally paid for the items from the price she sold them for.

Zoey sold snacks at a neighborhood pool. The cost of preparing the snacks was $10.29. The money she received from the sale of the snacks was $21.75. What was Zoey's profit?

• $32.04

• $21.75

• $11.46

• $10.29

Answer explanation

To calculate profit, you subtract the cost of preparing the snacks, $10.29, from the price she sold them for, $21.75.

Gwen bought an old table. She repaired it and painted it so that it looked new. Then she sold the table. Gwen made this list about what she did. What was Gwen's profit from selling the table?

• $27.50

• $50.00

• $22.50

• $28.50

Answer explanation

$50.00 - $22.50 = $27.50 profit

Raina sold pens decorated with fancy tape.

Raina's expenses were $11.57 for supplies.

Raina sold 12 pens for $2 each.

What was Raina's profit?

Choose the correct equation.

• (12 x $2) + $11.57

• $11.57 + 12 + $2

• (12 x $2) - $11.57

• (12 + $2) - $11.57

Which of these statements describe the primary services of a bank?

• Statements II and IV only

• Statements I, II, and IV only

• Statement III only

• Statements I, II, and III only

Answer explanation

You do not pick up packages at a bank.

Which statements best describes the primary service of a bank?

• Banks offer checking and savings accounts to its customers.

• Banks help customers decide which expenses to pay.

• Banks help customers meet their neighbors.

• Banks sell stamps and deliver mail.