4th Grade Financial Literacy has profit Qs

Question 1

I spend $15 on wheels to make 4 race cars. I sell each car for $10. What's my profit?

Accepted Answer

$25

Question 2

I buy an old chair for $30.I spend $10 for repairs on it. I sell it for $60. What's my profit?

Accepted Answer

$20.

Question 3

Which is a reason Alex might go to a bank?

Accepted Answer

To borrow money

Question 4

Jo spends $10 a month for dues.Sometimes buys desert for $2. What's his fixed exp for the year?

Accepted Answer

$120.

Question 5

Which is an example of a Fixed Expense?

Accepted Answer

Weekly lunch

Question 6

I sold a shirt for $15. My expenses were $2 for ink and $4 for thread. How much was my profit?

Accepted Answer

$9.

Question 7

Weekly karate class $20. New game $34. Weekly loan payment $10.What's the total fixed expenses?

Accepted Answer

$30.

Question 8

Receipts, Expenses, Profit (REP): Which describes how we calculate profit?

Accepted Answer

R - E = P

Question 9

Which is an example of a variable expense?

Accepted Answer

Cost of a book

Question 10

I start a bank account with $100. I deposit $75. I then, withdraw $25. What is my balance?

Accepted Answer

$150.

Questions 10