Quiz about Financial Literacy Task Cards

Question 1

Fatima has a net salary of $235 per week. If she pays $30 in income tax and $15 in payroll tax, how could Fatima determine her gross salary? Why?

Accepted Answer

235 + 30 + 15

Net salary plus deductions equals gross salary.

Answer

235 - 30 - 15 = $190.

Net salary minus all deductions equals gross salary

Answer

235 + 15 + $250.

Net salary plus payroll tax deductions equals gross salary.

Answer

235 + 30 = $265

Net salary plus income tax deductions equals gross salary.

Question 2

Joseph was offered a job with a salary of $500 a week. When he received his first paycheck, he saw that the amount was $412. Based on the is information, which of the following explains the reason for the difference from $500 to $412 in Joseph's paycheck?

Accepted Answer

His gross income was $500, but his net income was $412 because he paid taxes from his salary.

Answer

His gross income was $412, but his net income was $500 because he paid taxes from his salary.

Answer

His gross income was $500, but he only kept $412 after he paid his rent.

Answer

His gross income was $412 because he did not work the entire week.

Question 3

Brooke's gross monthly income is $1,200. Her total monthly taxes are $175. What is the amount of Brooke's net monthly income?

Accepted Answer

$1,025

Answer

$1,375

Answer

$700

Answer

$500

Question 4

The table shows the gross income and payroll tax for the Todd family for one week. What is the net income for the Todd family for one week?

Accepted Answer

$1,265.01

Answer

$1,285.01

Answer

$1,264.95

Answer

$1,315.76

Question 5

Nathan worked 45 hours last week. His pay was $20 per hour for 35 hours and $30 per hour for any time after $35 hours. What was Nathan's gross income for last week if the earnings from this job are his only source of income?

Accepted Answer

$1,000

Answer

$900

Answer

$1,350

Answer

$700

Question 6

Emily works at an ice cream shop. In the last four weeks, her gross income was $120.75, $118.50, $99.75 and $115.75. Her total payroll tax was $59.70. How can Emily find her net income for the four weeks?

Accepted Answer

Find the sum of the gross incomes, then subtract the payroll tax.

Answer

Fine the sum of the gross income, then add the payroll tax.

Answer

Add $59.70 to each of the gross incomes, then add the sums.

Answer

Find the sum fo the gross incomes.

Question 7

The paystub above shows Elliot's weekly net income and payroll taxes. What is Elliot's weekly gross income?

Accepted Answer

$529.95

Answer

$487.74

Answer

$317.55

Answer

$465.95

Question 8

Jake's gross income last month was $2,984.45. He paid $442.45 in payroll tax for the month. How can you find Jake's net income for one week if there were four weeks in the month?

Accepted Answer

Subtract the payroll tax from the gross income and divide by 4.

Answer

Add the payroll tax to the gross income and multiply by 4.

Answer

Subtract the payroll tax from the gross income and multiply by 4.

Answer

Add the payroll tax to the gross income and divide by 4.

Question 9

The paystub above shows an employees weekly gross income and payroll taxes. What is this employees weekly net income?

Accepted Answer

$609.47

Answer

$750.53

Answer

$703.47

Answer

$633.00

Question 10

Kennedy's net monthly income is $2,100. She only pays $450 each month income tax. Only income tax is taken out of her check. What is her gross monthly income?

Accepted Answer

$2,550

Answer

$2,100

Answer

$900

Answer

$1,650

Question 11

Arianna earns money babysitting on the weekends. She earns $25 Saturday morning and $75 Saturday afternoon. She earned $100 on Sunday. A payroll tax of $26.25 was withheld each day If this is Arianna's only source of income, what was her income for the two days?

Accepted Answer

$147.50

Answer

$73.75

Answer

$122.25

Answer

$173.75

Question 12

Allen's gross yearly income is $55,000. He pays $15,000 in taxes each year. Only taxes are taken out of Allen's check. What is his net yearly income?

Accepted Answer

$40,000

Answer

$70,000

Answer

$50,000

Answer

$14,000

Question 13

Kian's gross monthly income is $1,500. He pays $200 in taxes each month. Only taxes are taken out of his check. What is Kian's net monthly income?

Accepted Answer

$1,300

Answer

$1,700

Answer

$200

Answer

$3,000

Question 14

Alex works part-time at a sporting good store. Last week his income was $105.74 This week his gross income is $117.52 The total of his payroll taxes for the two weeks is $28.37. Which of the following can be used to find the net income for the two weeks?

Accepted Answer

Find the sum of the gross incomes. Then subtract the payroll taxes.

Answer

Find the sum of the gross incomes. Then add the payroll taxes.

Answer

Add the payroll taxes to the gross incomes for each week. Then add the sums.

Answer

Subtract the payroll taxes from the gross income for each week. Then add the totals.

Question 15

Shannon's only source of income is her job at a car wash, where she works 25 hours each week. She is paid $9.90 per hour. What is her net weekly income if she pays $30.70 in payroll tax each week?

Accepted Answer

$216.80

Answer

$247.50

Answer

$278.20

Answer

$217.20

Question 16

Brynn works in a bookstore for 36 hours each week. She earns $9.75 per hour. What is Brynn's net weekly income if her payroll tax is $73 each week?

Accepted Answer

$278

Answer

$351

Answer

$424

Answer

$317

Question 17

Mr. Sandoval's gross monthly income is $4,090 and his payroll tax is $654.40 per month. Mrs. Sandoval's gross monthly income is $4,250 and her payroll tax is $680 per month. What is the Sandoval's combined net monthly income?

Accepted Answer

$7,005.60

Answer

$9,674.40

Answer

$8,340.00

Answer

$6,905.60

Question 18

Abby worked for a computer company last weekend. On Saturday, her gross income was $350 and her net income was $307.05. On Sunday, her gross income was $280 and her net income was $246.35. What amount did Abby pay in payroll tax last weekend?

Accepted Answer

$76.60

Answer

$103.00

Answer

$137.30

Answer

$70.00

Question 19

Emily works part-time at a grocery store. Her gross income amounts for the last four weeks were $115.75, $118.50, $120.75 and $99.75. Her total payroll tax for the four weeks was $59.70. Which of the following can be used to determine her net income for the four weeks?

Accepted Answer

Find the sum of her gross incomes, then subtract her payroll tax for the four weeks.

Answer

Find the sum of her gross incomes.

Answer

Add $59.70 to each of her gross incomes, then add the sums.

Answer

Find the sum of her gross incomes, then add her payroll tax for the four weeks.

Question 20

Yessenia works at a pet store for 40 hours each week. She earns $10.75 per hour. What is Yessenia's net weekly income if her payroll tax is $11 each week?

Accepted Answer

$419

Answer

$430

Answer

$474

Answer

$386

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