Payment Periods
How many days are there in a year?
365
Vihaan earns a 15% commission on every mobile phone item he sells. If Vihaan sells $10,500 of items this month, what will his commission be?
$10,500 x 15% = $1575.00
An accountant working for a manufacturer gets a salary of $54 800. What is her gross monthly pay?
$4 566.67
How much will a clerk employed at $22.20 per hour on a casual basis earn for working 25 hours in a week?
$555.00
Kim get paid $18.75 an hour. Calculate Kim's time and half rate AND her double time rate.
Time and half = $28.13 per hour
Double time = $37.50 per hour
How many weeks are there in a year?
52
Which commission will pay the higher amount?
10% of $100,000
OR
2% of $1,000,000
2% of $1,000,000 totals $20,000
10% of $100,000 is only $10,000
A clerk gets a salary of $44 500. What is her gross monthly pay?
$3 708.33
A clerical worker employed permanent full-time is paid $834.95 a week. Calculate the hourly rates for this employee.
$21.97 per hour
Tom get paid $23.40 an hour. During one week he works 40 hours. What is Tom's weekly wage?
$959.40
How many months are there in a year?
12
Shinbi has received two job offers in real estate sales. Company 1 will pay her $5,000 per house that she sells; Company 2 will pay her 2.5% of the sale price. Shinbi believes she can easily sell two houses each month for an average of $350,000. Which real estate company will pay Shinbi more?
Company 2 will pay her more.
2.5% of $700,000 = $17,500.
Company 1 will only pay her $10,000.
A systems analyst starts work on a salary of $44 570. How much is his weekly gross pay?
$857.12
What is the average amount of hours worked in a week for someone employed full time in Australia?
The average full time worker in Australia works 38 hours per week.
Mary gets paid $16.65 (gross) an hour working in a fast food restaurant. She is paid time and a half for every hour over 38 hours that she works. During the Easter holidays, Mary works a 45 hour week. How much does she gross that week?
Mary gets paid $865.80 gross.
38 x $16.65 = $632.70
7 x $33.30 = $233.10
How many fortnights are there in a year?
26
Yin receives a retainer of $1,000 per week, as well as a commission of 10% on all car parts that he sells. In a week where Yin sells $3,000 in parts, what will his total pay be?
Yin will earn $1,300.
How? $1,000 weekly income + $300 commission.
An experienced childcare director gets a salary of $69 913. What is her fortnightly gross pay?
$2 688.96
Sally, an assistant childcare worker who is employed on a casual basis, is paid $18.46 an hour. What does Sally earn in a week in which she works for 28 hours?
Sally earns $516.88
Anita needs to earn $700 a week to survive. She gets paid $18 an hour and works 38 hours per week as a full-time employee.
How many hours overtime must Anita work at time-and-a-half to make at least $700 in a week?
Anita earns $684 per week for her 38 hours.
1 hour overtime at time-and-half rate will get Anita $27, bringing her weekly total to $738.
How do you convert a yearly income to a fortnightly income?
You divide the yearly income by 26.
Mary sells a Ferrari 488 Spider Convertible for $580,000. What will her total commission be?
Commission structure:
First $100,000 = 5%
The remainder of sale price = 2%
Total commission for Mary is $14,600.
Working:
$100,000 x 5% = $5,000
$480,000 x 2% = $9,600
A politician with a shire council gets a salary of $130 864. What is his gross fortnightly pay?
$5 033.23
Ralph is a permanent full-time plasterer who works Monday to Friday and currently earns $753.75 a week. He doesn't work any overtime. Ralph wants to work as a casual employee (earning $28.08 per hour) to spend at least one day a week looking after his grandchildren. If his employer agrees to let Ralph work as a casual employee, how many hours a week will he need to work to earn the same gross weekly wage?
Ralph will need to work 27 hours
$753.75 divided by 27
= 26.84 hours (rounded up to 27)
Colin is a full-time employee, working 38 hours per week at The Hungry Duck. He needs to make $1115 per week to meet all his financial commitments and expenses. Colin gets paid $20.50 per hour. What is the minimum number of overtime hours at time-and-a-half that Colin must work to make the money he needs?
Colin earns $779 per week for his 38 hours of work.
Colin must work 11 hours at time-and-a-half ($338.25), bringing his total to $117.25.
Colin should re-assess his financial situation and cut back on his expenses!