FBLA Financial Math Test

What is the total cost of an item priced at $250 with a 6% sales tax?

• $250.00

• $256.00

• $265.00

• $257.50

If you take out a single-payment loan for $1,000 at an interest rate of 8% for 6 months, how much interest will you pay?

• $40

• $60

• $80

• $100

A retailer buys a product for $50 and applies a 40% markup on cost. What is the selling price?

• $60

• $70

• $80

• $90

If a store offers a 25% discount on an item originally priced at $200, what is the sale price?

• $125

• $140

• $150

• $175

What is the median of the following data set: 10, 15, 20, 25, 30?

• 10

• 15

• 20

• 25

A company’s sales data are best displayed using which type of chart?

• Line chart

• Pie chart

• Bar chart

• Scatter plot

An employee earns $20 per hour and works 45 hours a week. Overtime is paid at 1.5 times the hourly wage. What is the total gross pay?

• $900

• $950

• $1,000

• $1,050

If an employee's paycheck has a gross pay of $1,000 and deductions for Social Security (6.2%) and Medicare (1.45%), what is the total deduction for these two taxes?

• $66.50

• $70.50

• $73.50

• $76.50

If you invest $5,000 at a 5% annual interest rate compounded annually, how much will you have after 3 years?

• $5,750

• $5,805.12

• $5,907.63

• $6,250

What is the simple interest earned on a $3,000 investment at 4% for 2 years?

• $120

• $180

• $200

• $240