Maths Monkey — Printable Worksheet
MathsMonkey
Grade 10Mathematical Literacy
2026
Grade 10 MathLit - Finance: Income, Tax & Budgets Worksheet
mathsmonkey.co.za

Instructions: Show all calculations. Round money answers to 2 decimal places. Label units clearly (R, %, hours).

Section A: Reading a Payslip (8 marks)

EarningsDeductions
Basic salaryR 14 500UIF (1%)
OvertimeR 1 200Medical aidR 850
Gross incomePension (7.5%)
Total deductions
Net pay

  1. Calculate the gross income. (2)

  2. Calculate the UIF deduction. (1)

  3. Calculate the pension contribution. (2)

  4. Calculate the total deductions. (1)

  5. Calculate the net pay. (2)

Section B: VAT (6 marks)

  1. A jacket costs R 349 including VAT (15%). Calculate the VAT amount included in the price. (2)

  2. A laptop costs R 8 200 excluding VAT. Calculate the VAT-inclusive price. (2)

  3. You buy groceries for R 215 (VAT-exempt) and cleaning products for R 130 (VAT-inclusive). How much VAT did you pay in total? (2)

Section C: Monthly Budget (6 marks)

Monthly income: R 12 400 net

ExpenseAmount
RentR 4 200
GroceriesR 1 800
TransportR 650
ElectricityR 420
CellphoneR 299
EntertainmentR 500

  1. Calculate total monthly expenses. (2)

  2. Is there a surplus or deficit? Calculate the amount. (2)

  3. Suggest one way to improve this budget and explain why. (2)

Total: 20 marks