Grade 7 Consumer Math Worksheet
This worksheet covers consumer math concepts for 7th graders, including budgeting, calculating discounts, understanding sales tax, and simple interest.
Includes
Standards
Topics
Consumer Math Fundamentals
Name:
Date:
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Read each question carefully and answer to the best of your ability. Show your work where applicable.
1. If an item costs $40 and is on sale for 25% off, what is the discount amount?
$5
$10
$15
$20
2. Sales tax is usually calculated as a percentage of the .
original price
discount amount
final price before tax
shipping cost
3. A plan for how you will spend and save your money is called a .
4. When you borrow money from a bank, you typically have to pay back the original amount plus .
5. A new video game costs $60. If the sales tax is 8%, what is the total cost of the game?
6. You deposit $500 into a savings account that earns 2% simple annual interest. How much interest will you earn after 1 year?
7. A budget helps you track your income and expenses.
True
False
8. The principal is the extra money you pay for borrowing money.
True
False
Match the term on the left with its definition on the right.
9. Income
a. Money spent on goods and services
10. Expense
b. Money received, especially on a regular basis, for work or through investments
11. Discount
c. A reduction in the usual price of something