Financial Planning — Practice Quiz
Maharashtra Board · Class 9 · Mathematics
Try a 4-question quiz on Financial Planning for Maharashtra Board Class 9 Mathematics: tap an answer to check it and see why.
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Quick Quiz: Financial Planning
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Ravi saves Rs. 150 every month. How much will he save in 2 years?
If Priya invests Rs. 10,000 at 8% simple interest for 3 years, what will be her total amount?
Amit spends 75% of his monthly income and saves the rest. If he saves Rs. 5,000 per month, what is his monthly income?
Calculate the compound interest on Rs. 8,000 at 10% per annum for 2 years.
Sample Questions
Which of the following are examples of direct taxes?
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Income Tax, Professional Tax, Wealth Tax
Direct taxes are paid directly by the taxpayer. Income Tax, Professional Tax, and Wealth Tax are direct taxes. Sales Tax and Service Tax are indirect taxes as they are collected from consumers through sellers.
The basic exemption limit for income tax for individuals under 60 years is Rs. 2,50,000. This statement is:
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True
According to the income tax structure, individuals under 60 years of age have a basic exemption limit of Rs. 2,50,000, meaning no tax is payable on income up to this amount.
Which of the following are good financial planning practices?
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Saving for emergencies, Investing in diversified options, Planning for future expenses
Good financial planning includes saving for emergencies, diversifying investments to reduce risk, and planning for future expenses. Spending all income immediately and avoiding investments are poor financial practices.
If a person's taxable income is Rs. 4,00,000 (age 35 years), calculate the income tax payable.
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Rs. 7,500
For taxable income of Rs. 4,00,000: First Rs. 2,50,000 is exempt. Remaining Rs. 1,50,000 falls in 5% slab. Tax = 1,50,000 × 5/100 = Rs. 7,500
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