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Grade 8 · Financial Literacy · Interactive practice

Financial Planning Practice

Practise taxes, balanced budgets, currency costs, and interest. Work through all three problems and use the feedback to improve your strategy.

All 3 questions

A $500 purchase has 13% tax. What is the total?

Choose an answer, then check your thinking.

View every question and worked answer

  1. A $500 purchase has 13% tax. What is the total?

    Answer: $565

    Tax is 500 × 0.13 = $65, so the total is $565.

  2. Monthly income is $900, expenses are $725, and planned savings are $150. What remains?

    Answer: $25

    $900 − $725 − $150 = $25 remains.

  3. What is one year of 4% simple interest on $2,000?

    Answer: $80

    Interest is principal × rate × time: 2000 × 0.04 × 1 = $80.