Financial Institutions and Calculating Profit

What is the basic purpose of financial institutions?

• To promote charity.

• To provide financial services between savers and borrowers.

• To provide entertainment activities.

• To help people spend their money wisely.

Name one way financial institutions keep money safe.

• ATM's

• Guards and tellers

• Secure vaults and safes

• Offsite backup

What is the process of borrowing money from financial institutions called?

• Taking out a loan

• opening a credit card

• savings account

• checking account

Define profit in a given situation.

• The revenue left over after all expenses are paid

• The total earnings

• The total revenue generated

• The amount of money spent on expenses

Calculate the profit if the cost price is $500 and the selling price is $700.

• $100

• $300

• $400

• $200

Calculate the profit if the cost price is $800 and the selling price is $650.

• $150

• -$150

• $650

• $800

Calculate the profit if the cost price is $1200 and the selling price is $1500.

• $200

• $400

• $500

• $300

Calculate the profit if the cost price is $20.00 and the selling price is $25.00.

• $5.00

• $500

• $15.00

• $50.0

What is the result of adding 5.25 and 3.75?

• 9

• 10

• 7

• 8

What is the result of subtracting 8.9 from 15.6?

• 22.5

• 6.7

• 0.7

• -6.7