Math Word Problems quiz

Money and Financial Math Word Problems Quiz

Practice 10 money and financial math word problems involving prices, sales tax, discounts, simple interest, budgets, wages, overtime, profit, break-even analysis, commissions, and multi-step financial situations. Use hints when needed and review the explanation after each answer.

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1 Question 1 of 10

Not answered

A backpack costs $84 before tax. The sales tax rate is 7.5%. What is the total amount paid?

Hint: Find 7.5% of $84, then add the tax to the original price.

Explanation: Tax = 0.075 × $84 = $6.30. Total paid = $84 + $6.30 = $90.30.

2 Question 2 of 10

Not answered

A tablet with an original price of $250 is discounted by 18%. What is the sale price?

Hint: An 18% discount means you pay 82% of the original price.

Explanation: Sale price = $250 × 0.82 = $205. Equivalently, the discount is $45 and $250 - $45 = $205.

3 Question 3 of 10

Not answered

You deposit $1,200 in an account that earns 4.5% simple interest per year for 3 years. How much interest is earned?

Hint: Use the simple-interest formula I = Prt, where r is written as a decimal.

Explanation: I = Prt = 1,200 × 0.045 × 3 = 162. The account earns $162 in simple interest.

4 Question 4 of 10

Not answered

A student earns $1,850 per month. Monthly expenses are $720 rent, $320 food, $185 transportation, and $65 phone service. The student also saves 20% of monthly income. How much money remains after all expenses and savings?

Hint: Find 20% of the income first, then subtract the fixed expenses and savings from $1,850.

Explanation: Savings = 0.20 × $1,850 = $370. Fixed expenses total $720 + $320 + $185 + $65 = $1,290. Remaining money = $1,850 - $1,290 - $370 = $190.

5 Question 5 of 10

Not answered

An employee earns $18.40 per hour for the first 40 hours and 1.5 times the regular rate for overtime. In one week, the employee works 37.5 regular hours and 5 overtime hours. What is the total gross pay?

Hint: Calculate regular pay and overtime pay separately. The overtime rate is 1.5 × $18.40.

Explanation: Regular pay = 37.5 × $18.40 = $690. Overtime rate = $27.60, so overtime pay = 5 × $27.60 = $138. Total gross pay = $690 + $138 = $828.

6 Question 6 of 10

Not answered

A small business buys 48 reusable bottles for $12.50 each. Three bottles are damaged and cannot be sold. The remaining bottles sell for $19 each. What is the business profit?

Hint: The business pays for all 48 bottles but earns revenue from only 45 bottles.

Explanation: Cost = 48 × $12.50 = $600. Revenue = 45 × $19 = $855. Profit = $855 - $600 = $255.

7 Question 7 of 10

Not answered

A school event has fixed costs of $900. Each ticket sold has an additional cost of $7.50, and each ticket sells for $15. How many tickets must be sold to break even?

Hint: Each ticket contributes the selling price minus the variable cost toward covering the fixed cost.

Explanation: Contribution per ticket = $15 - $7.50 = $7.50. Break-even tickets = $900 ÷ $7.50 = 120 tickets.

8 Question 8 of 10

Not answered

A store buys a lamp for $80, marks it up by 40%, and then offers customers a 15% discount on the marked price. What is the final selling price?

Hint: Apply the 40% markup first, then apply the 15% discount to the marked price.

Explanation: Marked price = $80 × 1.40 = $112. Final price = $112 × 0.85 = $95.20.

9 Question 9 of 10

Not answered

A salesperson receives a base salary of $600 for the week plus a 6% commission on $8,500 in sales. What is the total weekly pay?

Hint: Find 6% of the sales amount, then add the base salary.

Explanation: Commission = 0.06 × $8,500 = $510. Total weekly pay = $600 + $510 = $1,110.

10 Question 10 of 10

Not answered

A borrower takes a $2,500 loan at 6% simple interest for 18 months. The total amount due is then repaid in 5 equal payments. How much is each payment?

Hint: Convert 18 months to 1.5 years, calculate simple interest, add it to the principal, then divide by 5.

Explanation: Interest = $2,500 × 0.06 × 1.5 = $225. Total due = $2,500 + $225 = $2,725. Each payment = $2,725 ÷ 5 = $545.

Your result

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Financial math workspace

Financial word problems are about cash flow: what comes in, what goes out, and what the percentage is applied to

These 10 problems use prices, tax, discounts, simple interest, budgeting, wages, overtime, profit, break-even analysis, markup, commissions, and loan repayment. The strongest habit is to label each quantity before calculating: cost, revenue, rate, time, income, expense, or balance.

PricesTaxDiscountsSimple interest BudgetsWagesProfitBreak-evenCommission

Price + tax ledger

Sales tax is added to the pre-tax price

For an $84 backpack with 7.5% sales tax, separate the tax from the total paid.

Backpack$84.00

Tax rate7.5%

Tax$6.30

Total paid$90.30

Simple-interest clock

Simple interest grows from the original principal, not from a growing balance

For $1,200 at 4.5% per year for 3 years, use I = Prt.

I = 1200 × 0.045 × 3 = $162

Each year adds the same $54 of interest

Year 1$54

Year 2$54

Year 3$54

Total interest = $54 + $54 + $54 = $162.

Monthly budget board

A budget is a conservation equation: income must equal spending, saving, and what remains

Income is $1,850. Fixed expenses total $1,290, savings are $370, and $190 remains.

Income allocation

Expenses: $1,290

Savings: $370

Remaining: $190

Equation check

$1,290 + $370 + $190 = $1,850.

If the parts do not add back to total income, something was missed or counted twice.

Wage calculator

Overtime uses a different hourly rate, so calculate it separately

Regular: 37.5 × $18.40$690

Overtime rate: 1.5 × $18.40$27.60/hr

Overtime: 5 × $27.60$138

Profit dashboard

Profit is revenue minus all relevant costs — including items that cannot be sold

The bottle problem pays for 48 units but earns revenue from only 45.

Total cost48 × $12.50 = $600

Revenue45 × $19 = $855

Profit$855 − $600 = $255

Break-even ruler

Break-even happens when contribution from sales exactly covers fixed costs

Each $15 ticket has $7.50 of variable cost, leaving $7.50 per ticket to cover the $900 fixed cost.

120

loss zonebreak-evenprofit zone

$900 ÷ ($15 − $7.50) = 120 tickets

After the quiz

Review financial mistakes by cash-flow type

A wrong answer often comes from using the right operation on the wrong financial quantity.

Consumer mathprices, discounts, tax, markup

Personal financebudgets, savings, wages, commissions

Interestprincipal, rate, time, total repayment

Business mathcost, revenue, profit, contribution, break-even

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