Calculating Pay
If your gross pay is $800 and your tax is $150, what is your net pay?
$650
A business has $5,000 in revenue and $3,000 in expenses. Did they make a profit or a loss, and by how much?
Profit, $2,000
Is your rent a fixed or variable expense?
Write 4:30 pm in 24-hour time.
16:30
What is the 10% tax on a $500 item called in Australia?
GST
A plumber works 8 hours at $40/hr. What is their gross pay for the day?
$320
A carpenter buys timber for $150 and sells the finished product for 400. What is their dollar profit?
$250
Your weekly income is $700. Your total expenses are $650. What is your weekly surplus?
$50
A job starts at 09:00 and takes 3 hours and 15 minutes. What time does it finish?
12:15
A business has fixed costs of $200. They make $10 profit per item. What is their break-even point?
20 items
An apprentice's normal rate is $24/hr. What is their pay rate for a shift at time−and−a−half?
$36/hr
A mechanic buys a part for $200 and makes a $100 profit. What was the selling price?
$300
Your bank balance is $200. You have to pay a $350 bill. What will your new balance be?
-$150
A flight from Sydney to Dubai is 14 hours. If you leave Sydney, what is the time difference to Dubai?
6 hours behind
An apprentice earns $600 a week and saves $90. What is their savings rate?
15%
A mechanic earns $1,200 gross in a week. How much super annuation must their employer pay?
A software engineer spends $500 on software. Their project revenue is $2,000. What is their percentage profit?
300%
Define cash flow in one sentence.
The movement of money in and out of your bank account.
You start work at 8:45 am and finish at 4:15 pm. How long did you work?
7 hours, 30 minutes
You are buying a car for $25,000. You pay a 10% deposit. What is the remaining amount that you need to get a loan for?
$22,500
An electrician works a 10-hour day. Their rate is $35/hr for the first 8 hours, and time−and−a−half for the rest. What is their total pay for the day?
$455
An agent's commission is $20,000. They spent $1,500 on advertising. What is their percentage profit on their expenses?
1233.3%
A business is profitable on paper but has run out of cash to pay its bills. What is this problem called?
A cash flow problem.
An overnight shift starts at 10:00 pm and ends at 6:30 am the next day. How long is the shift?
8 hours 30 minutes
A carpenter's total costs for a job (materials and labour) are $800. They want to add a 40% profit mark-up, and then add 10% GST to that new total. What is the final price on the quote?
$1232