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Vidaara.orgClass 8 · Mathematics
CodeVID-M08-22-SAV-01
Savings and Budgeting - Assignment
Chapter: Commercial Mathematics
Topic: Savings and Budgeting
Maximum Marks: 35
Time: 75 minutes
Name: ____________________ Roll No.: __________ Date: ____________

General Instructions

  • All questions are compulsory.
  • Section A carries 1 mark each, Section B 2 marks, Section C 3 marks and Section D 5 marks.
  • Show all working for Sections B, C and D. Only final answers are given at the end — for full solutions, raise your doubts with your teacher.
Section A — Multiple Choice Questions 5 × 1 = 5 marks
1.
Savings $=$
  • A.Income $+$ Expenses
  • B.Income $-$ Expenses
  • C.Expenses $-$ Income
  • D.Income $\times$ Expenses
2.
A budget is a plan for income and:
  • A.tax
  • B.spending
  • C.profit
  • D.discount
3.
In a budget, ___ come before wants.
  • A.luxuries
  • B.needs
  • C.gifts
  • D.savings
4.
Spending less than you earn lets you:
  • A.borrow
  • B.save
  • C.overspend
  • D.lose
5.
Saving regularly builds:
  • A.debt
  • B.financial security
  • C.expenses
  • D.tax
Section B — Short Answer (2 marks) 4 × 2 = 8 marks
6.
Income Rs $10000$, expense Rs $7000$. Find the savings.
7.
Savings Rs $2000$ from income Rs $8000$. Find the savings$\%$.
8.
If you save Rs $500$ a month, find the yearly savings.
9.
Expenses Rs $12000$, income Rs $15000$. Find the savings.
Section C — Short Answer (3 marks) 4 × 3 = 12 marks
10.
A person earns Rs $25000$ and spends Rs $19000$. Find the savings and savings$\%$.
11.
Monthly saving Rs $1500$. Find the savings in $2$ years.
12.
Income Rs $40000$, savings $20\%$. Find the amount saved.
13.
Expenses are $70\%$ of an income of Rs $30000$. Find the savings.
Section D — Long Answer (5 marks) 2 × 5 = 10 marks
14.
A family's monthly income is Rs $45000$. They spend Rs $18000$ on rent, Rs $12000$ on food and Rs $6000$ on other needs. Find the total expenses, the savings and the savings as a percentage of income.
15.
A student saves Rs $800$ each month for one year, then Rs $1000$ each month for the next year. Find the total amount saved over the two years.

Answer Key

Section A — Multiple Choice Questions
  1. (B) Income $-$ Expenses
  2. (B) spending
  3. (B) needs
  4. (B) save
  5. (B) financial security
Section B — Short Answer (2 marks)
  1. Rs $3000$.
  2. $25\%$.
  3. Rs $6000$.
  4. Rs $3000$.
Section C — Short Answer (3 marks)
  1. Savings Rs $6000$; $24\%$.
  2. Rs $36000$.
  3. Rs $8000$.
  4. Rs $9000$.
Section D — Long Answer (5 marks)
  1. Expenses Rs $36000$; savings Rs $9000$; $20\%$.
  2. Rs $21600$.
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