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Calculations In Everyday Contexts.

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Wage Rises Example 1. (a) The new annual wage. (b) The new monthly wage. Solution (a)The new annual wage = old wage + pay rise. = 16 152 + 2400 = £18 552 per annum. (b) Monthly salary = annual salary 12 months = £18 552 12 = £1546 per month A computer operator earning £16152 per annum is given a wage rise of £2400. Calculate :

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(a) The new annual wage. (b) The new monthly wage. Solution (a)The new annual wage = old wage + pay rise. = 16 152 + 2400 = £18 552 per annum. (b) Monthly salary = annual salary 12 months = £18 552 12 = £1546 per month A computer operator earning £16152 per annum is given a wage rise of £2400. Calculate : What’s in the box?

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Example 2. Solution. Calculate Jane’s pay rise: 7 % of £18 564 = £18 564 100 x 7 = £1299.48 New wage =18 564 + 1 299.48= £ 19 863.48 For a weekly wage divide by 52 Weekly wage = 19 863. 48 52 = £381.99 per week. Jane earns £18564 per year. She is given a 7 % pay rise but is still paid weekly. What does Jane earn per week?

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What’s in the box 2? Solution. Calculate Jane’s pay rise: 6 % of £23 564 = £23 564 100 x 6 = £1413.84 New wage =23 564 + 1413.84= £ 24 977.84 For a weekly wage divide by 52 Weekly wage = 24 977.84 52 = £480.34 per week. Jane earns £23 564 per year. She is given a 6 % pay rise but is still paid weekly. What does Jane earn per week?

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Commission Example 1. Solution. Commission = 3.5% of 45 000 = 45 000 100 x 3.5 = £1575 Total wage = basic + commission = 450 + 1575 = £ 2025 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 £45 000 worth of goods.

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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 £20 000. Calculate her total salary in a month when she sells £47 500 worth of goods. Solution. Amount of sales commission is paid on =47 500 – 20 000 = £27 500 Amount of commission = £27 500 100 x 7.5 = £2062.50 Total salary = basic + commission = 678 + 2062.50 = £2740.50

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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. = 8.60 + 4.30= £12.90

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Example 2. Solution. Normal wage =20.40 x 35 =£714 Overtime worked =43 – 35 =8 hours Overtime pay =20.40 + 10.20= £30.60 Overtime wage =30.60 x 8 =£244.80 Total wages =714 + 244.80 =£958.80 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.

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Hire Purchase. Example 1. Solution. H.P cost = Deposit + Monthly Payments. Monthly Payments =12 x 14.50= £174 H.P price =20 + 174 =£194 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.

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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 £17.50. Calculate the difference between the cash price and the H.P price. Solution Deposit =10% of 350= £35 Monthly payments =24 x 17.50 =£420 Total H.P price =35 + 420 =£455 Difference in price =H.P – C.P =455 - 350 = £105

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Example 3. A car with a cash price of £ 8 500 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 payments3 years = 36 months. 210 x 36 =£7560 Total H.P price: £1275 +£7560 =£8 835

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Insurance Premiums. Example 1. Solution. £1000 worth of insurance =£2.76 £240 000 worth of insurance =2.76 x240 = £662.40 How much would a £240 000 house cost to ensure if the insurance company charges £2.76 per £1000 insured ?

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Example 2. Solution. House insurance: 2.32 x185 =£429.20 Contents insurance: 1.54 x80= £123.20 Total insurance costs :£429.20 +£123.20 = £552.40 How much would a house worth £185 000 with contents valued at £80 000 be to insure if the buildings premium was £2.32 per £1000 and contents premium £1.54 per £1000 ?

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