Budgeting And Saving Math Quiz

10 Questions | By Sankalp | Updated: Mar 22, 2022 | Attempts: 518

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If you think you have a good head for numbers, why not try this budgeting and saving math quiz? This is a carefully designed quiz to take you through the process of budgeting your expenditure to save money. Proper budgeting is a problem that many people face in their daily lives and yet it is not taught formally to kids. This quiz is the first step towards changing that. Numbers can be intimidating but don't be afraid, just dive right into this quiz with us and we will show you how fun they can be!

Questions and Answers

1.

If by the end of 12 months from now you want to save exactly $1000 and your monthly income is $1500 with the monthly expenditures being $1480, how much would you need to cut back on expenses?
- A.
  
  $65
- B.
  
  $64
- C.
  
  $60
- D.
  
  $80
2.

Car A consumes $20 in gasoline and costs $100 to be serviced while car B consumes $15 in gasoline and costs $105 to be serviced. Which car is the better option of the two?
- A.
  
  Car A
- B.
  
  Car B
- C.
  
  I don't know
- D.
  
  None, both cost the same
3.

A car has a 15-gallon gas tank with 3 gallons of gas in it. Premium gas costs $4.15 and the lower grade of gas costs $3.96. What would be the difference in price between filling the tank with lower grade vs premium gas?
- A.
  
  $2.26
- B.
  
  $2.28
- C.
  
  $3.28
- D.
  
  $4.00
4.

Your monthly budget for entertainment is $200. Suppose it costs $70 to eat out, $30 to watch a movie and $120 for a concert ticket. Can you do all this and still stay within your budget for the month?
- A.
  
  Yes
- B.
  
  No
5.

On a newly opened savings account with a minimum balance of $1,000 for one year, 2% interest is being offered by a bank on a $100 debit card. The second bank is offering 5% interest and a $50 debit card on a newly opened savings account with the same minimum balance for one year. Assuming that you decide to deposit $1,000, which bank has the better return (interest plus card value) FOR THE FIRST MONTH?
- A.
  
  The first bank
- B.
  
  The second bank
- C.
  
  Both are the same
- D.
  
  None of them
6.

You miss one workday every two weeks due to your poor health. You do not get paid when you are on leave and you normally work 8 hours a day and get paid $9.20 per hour. How much pay are you losing out on each year?
- A.
  
  $1133.05
- B.
  
  $1366.87
- C.
  
  $1823.33
- D.
  
  $1913.60
7.

It is time to get your car serviced. You will need four new tires costing $89.95 each, an oil change costing $45, and 2 new windshield wipers costing $7.95 each. What is the total cost of your service?
- A.
  
  $142.90
- B.
  
  $150.95
- C.
  
  $420.70
- D.
  
  $432.75
8.

Your boss allows you to work one hour of overtime at one and a half of the base salary for 5 days per week and you are planning to increase your monthly savings to buy a used car. Your regular wage is $12.00 per hour. You want to save $3,000 for your car. Approximately how many weeks must you work with the extra hour per day to reach your goal?
- A.
  
  34
- B.
  
  48
- C.
  
  50
- D.
  
  60
9.

You are saving $30 each month. You have a goal to accumulate $700 in savings. How long will it take you?
- A.
  
  About one year
- B.
  
  About two years
- C.
  
  About three years
- D.
  
  About four years
10.

You have budgeted $850 per month for rent. Your landlord has just informed you that your rent is being raised by 5% now and another 5% a month later at the end of the year. What will your rent be after these increments?
- A.
  
  $855.50
- B.
  
  $860.50
- C.
  
  $892.50
- D.
  
  $937.12