Economics Quiz

A pack of crayons costs $1.08 and a new coloring book costs $1.68 What is the total amount after adding in 8.7% of sales tax?

A new baseball mitt costs $19.95 and a practice bat costs $17.95. What is the total amount after adding in 8.7% of sales tax?

A new case for a tablet costs $24.73, a new charger costs $3.92, and a screen protector costs $10.76. How much is the total amount after adding in 8.7% of sales tax?

Tom charged $204.38 onto his credit card and was charged 28.99% interest at the end of the month. What was the total amount he owed after adding interest?

Maggie charged $895.49 on her credit card. She was charged 26.47% interest at the end of the month. What was Maggie's total cost to pay back after adding interest?

Robbie went and bought his first car for $21,392. There was 10.5% of sales tax and 19.35% of interest. What was the total cost for Robbie's car after sales tax and interest? (Remember: Calculate the sales tax first, then the interest)

The donut shop sells donuts, coffees, and juices. The cost to buy everything for the week is $404. For the first week, the shop made $206 selling donuts, $138 selling coffee, and $92 selling juices. Did the shop have a profit or a loss for the week?

• Profit

• Loss

• Came out even

The donut shop needed to raise prices and now charges $2.00 per donut, $1.75 for a cup of coffee, and $2.50 for a cup of juice. Assume the supplies cost $404 for the week. For the week, they sold 105 donuts, 79 cups of coffee, and 40 cups of juice.

How much of a profit did the shop have?

There is a surplus if there is too much of a good or service for sale at a given price.

• True
• False

There is a shortage if there is not enough of a good or service for sale at a given price.

• True
• False