Money and Financial Literacy — Answer Key
Part A: Multiple Choice
Circle the best answer for each question.
1. Liam saves $8 per week for 6 weeks. How much will he have?
A) $48
B) $40
C) $56
D) $32
Eight dollars times six weeks equals forty-eight dollars saved overall.
2. Job A pays $30/week. Job B pays $4/hour for 10 hours. Which pays more?
A) Job A
B) Job B
C) Same
D) Cannot tell
Job B pays forty dollars while Job A pays thirty, so Job B wins.
3. Two pencils for $1 or six pencils for $2.40. Which is cheaper per pencil?
A) Two for $1
B) Same price
C) Six for $2.40
D) Cannot tell
Six pencils for two dollars forty is forty cents each, beating fifty cents.
4. A bike costs $60. Maya saves $5/week. How many weeks until she can buy it?
A) 10
B) 15
C) 6
D) 12
Sixty dollars divided by five equals twelve weeks of saving needed.
Part B: Fill in the Blank
Write the correct answer on each line.
1. Saving $10/week for 4 weeks plus $5/week for 2 weeks totals $50.
Forty dollars plus ten dollars equals fifty dollars total saved overall.
2. If Job pays $5/hour for 8 hours, weekly pay is $40.
Five dollars times eight hours equals forty dollars in weekly pay.
3. A $30 toy is 20% off, saving you $6.
Twenty percent of thirty dollars equals six dollars off the price.
4. If a bike costs $80 and Maya saved $50, she still needs $30.
Eighty dollars minus fifty dollars equals thirty dollars still remaining.
5. Saving $4/week for 12 weeks gives $48.
Four dollars times twelve weeks equals forty-eight dollars total saved.