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**Calculations In Everyday Contexts.**

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Wage Rises Example 1. A computer operator earning £16152 per annum is given a wage rise of £2400. Calculate : (a) The new annual wage. (b) The new monthly wage. Solution (a) The new annual wage = old wage + pay rise. = = £ per annum. (b) Monthly salary = annual salary 12 months = £ 12 = £1546 per month

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Example 2. Jane earns £18564 per year. She is given a 7 % pay rise but is still paid weekly. What does Jane earn per week? Solution. Calculate Jane’s pay rise: 7 % of £ = 0.07 x £18 564 = £ New wage = = £ For a weekly wage divide by 52 Weekly wage = 52 = £ per week.

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Commission Example 1. Sam is paid a basic wage of £450 a month and 3.5% commission on sales he makes. Calculate his total salary in a month when he sold £ worth of goods. Solution. Commission = 3.5% of = x = £1575 Total wage = basic + commission = = £ 2025

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Example 2. Emily is paid a basic wage of £ 678 per month and 7.5% commission on sales she makes over the value of £ Calculate her total salary in a month when she sells £ worth of goods. Solution. Amount of sales commission is paid on = – = £27 500 Amount of commission = £ x 0.075 = £ Total salary = basic + commission = = £

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**Overtime & Bonuses. Example 1.**

If John’s normal wage was £8.60 an hour , calculate his wage at : (a) Double time (b) Time and a half. Solution (a) Double time = 2 x normal wage = 2 x 8.60 = £17.20 (b) Time and a half = normal wage plus half as much again. = = £12.90

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Example 2. Billy is paid £20.40 an hour for a 35 hour week and time and a half for any overtime he does. Calculate his wage in a week when he worked 43 hours . Solution. Normal wage = 20.40 x 35 = £714 Overtime worked = 43 – 35 = 8 hours Overtime pay = = £30.60 Overtime wage = 30.60 x 8 = £244.80 Total wages = = £958.80

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Hire Purchase. Example 1. I buy a bike on Hire Purchase (H.P) for a deposit of £20 and 12 monthly payments of £14.50.Calculate the total H.P price. Solution. H.P cost = Deposit + Monthly Payments. Monthly Payments = 12 x 14.50 = £174 H.P price = = £194

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Example 2. A television costs £350 cash price. It can be bought on H.P for a deposit of 10% of the cash price and 2 years of monthly payments of £ Calculate the difference between the cash price and the H.P price. Solution Deposit = 10% of 350 = £35 Monthly payments = 24 x = £420 Total H.P price = = £455 Difference in price = H.P – C.P = = £105

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Example 3. A car with a cash price of £ can be bought on H.P for a 15% deposit and a monthly payment of £210 for 3 years. Calculate the total H.P costs. Solution. Cost of deposit: 15% of 8500 = £1275 Monthly payments 3 years = 36 months. 210 x 36 = £7560 Total H.P price: £1275 + £7560 = £8 835

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**Insurance Premiums. Example 1.**

How much would a £ house cost to ensure if the insurance company charges £2.76 per £1000 insured ? Solution. £1000 worth of insurance = £2.76 £ worth of insurance = 2.76 x 240 = £662.40

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Example 2. How much would a house worth £ with contents valued at £ be to insure if the buildings premium was £2.32 per £1000 and contents premium £1.54 per £1000 ? Solution. House insurance: 2.32 x 185 = £429.20 Contents insurance: 1.54 x 80 = £123.20 Total insurance costs : £ £123.20 = £552.40

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MNU 3-09b MNU 4-09b 5-Dec-15Created by Mr. Lafferty Maths Dept. Wages & Salaries Hourly Rates / Wages www.mathsrevision.com Wage Rises Commission Wages.

MNU 3-09b MNU 4-09b 5-Dec-15Created by Mr. Lafferty Maths Dept. Wages & Salaries Hourly Rates / Wages www.mathsrevision.com Wage Rises Commission Wages.

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