Grade 8 Consumer Math Worksheet
This worksheet covers key concepts in consumer math for 8th graders, including calculating percentages, simple interest, and budgeting.
Includes
Standards
Topics
Consumer Math Basics
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Date:
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Read each question carefully and answer to the best of your ability. Show all your work for full credit.
1. What is 25% of $120?
$25
$30
$40
$50
2. If a shirt costs $20 and is on sale for 15% off, what is the discount amount?
$1.50
$2.00
$3.00
$5.00
3. Simple interest is calculated using the formula: I = P × R × T, where P stands for , R stands for rate, and T stands for time.
4. A budget helps you plan how to and spend your money.
5. You deposit $500 into a savings account that earns 3% simple interest annually. How much interest will you earn in 2 years?
6. Explain the difference between gross income and net income.
7. It is always better to buy the cheapest item without considering quality.
True
False
8. Sales tax is an additional amount of money added to the price of goods and services.
True
False
Use the words below to complete the sentences.
9. A financial plan that helps you manage your money is called a .
10. Money you earn from work or investments is your .
Match each term on the left with its definition on the right.
11. Principal
a. The cost of borrowing money
12. Interest
b. The original amount of money invested or borrowed