Canada Grade 8 Math Understanding personal finance, budgeting

If you earn $50 per week from your part-time job, how much will you have saved after 4 weeks if you save all your earnings?

• $150

• $200

• $250

• $300

Answer explanation

To find out how much you will save after 4 weeks, multiply your weekly earnings of $50 by 4. So, $50 x 4 = $200. Therefore, the correct answer is $200.

• $40

• $50

• $60

• $70

Answer explanation

You start with $100. After spending $35 on transportation and $25 on food, you have spent a total of $60. Subtracting this from your budget: $100 - $60 = $40. Therefore, you have $40 left.

If you save 20% of your $500 monthly allowance, how much do you save each month?

• $80

• $100

• $120

• $150

Answer explanation

To find 20% of your $500 allowance, multiply 500 by 0.20. This equals $100. Therefore, you save $100 each month.

• 10 weeks

• 12 weeks

• 15 weeks

• 20 weeks

Answer explanation

To find out how many weeks it takes to save $300 by saving $25 each week, divide 300 by 25. This gives 12 weeks. Therefore, the correct answer is 12 weeks.

• $300

• $400

• $450

• $500

Answer explanation

You start with $150 and deposit $50 each month for 6 months. That's 6 x $50 = $300. Adding this to your initial amount: $150 + $300 = $450. Therefore, the total after 6 months is $450.

• $40

• $50

• $60

• $70

Answer explanation

To find out how much more you need to save, subtract your current savings from the total cost: 80 - 30 = 50. Therefore, you need to save an additional $50.

If you spend $15 on lunch every week, how much do you spend on lunch in a month with 4 weeks?

• $45

• $50

• $60

• $75

Answer explanation

To find the monthly lunch expense, multiply the weekly cost by the number of weeks: $15 x 4 = $60. Therefore, you spend $60 on lunch in a month with 4 weeks.

• $40

• $50

• $60

• $70

Answer explanation

You start with a budget of $200. After buying a jacket for $80 and shoes for $70, you spend a total of $150. Subtracting this from your budget leaves you with $50, which is the correct answer.

If you save $10 each week, how much will you have saved after 10 weeks?

• $80

• $90

• $100

• $110

Answer explanation

If you save $10 each week for 10 weeks, you multiply 10 by 10, which equals $100. Therefore, after 10 weeks, you will have saved $100.

• 6 weeks

• 7 weeks

• 8 weeks

• 9 weeks

Answer explanation

To find out how many weeks it takes to save $120 by saving $15 each week, divide 120 by 15. This gives you 8 weeks. Therefore, the correct answer is 8 weeks.