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Wages & Salaries General Hourly Rates / Wages Wages / Hourly Rates www.mathsrevision.com Weekly / Monthly Wages Annual Salaries Wage Rises Commission Wages Overtime Pay Gross - Deductions = NET pay Harder Commission 24-Apr-14 Created by Mr. Lafferty Maths Dept. Starter Questions General www.mathsrevision.com 24-Apr-14 Created by Mr. Lafferty Maths Dept. Wages & Salaries General Learning Intention Success Criteria www.mathsrevision.com • To explain how to calculate 1. Understand the terms wage wages. and salary. 2. Calculate wage / salary given hourly rate. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Wages / Salary : How much a person is paid to do a job. www.mathsrevision.com Can be measured weekly, monthly or annually. Hourly rate : How much you get paid for an hours work. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 1 : www.mathsrevision.com Sean the mechanic hourly rate of pay is £6.50. Last week he worked 38 hours. What is his basic pay? Pay is = £6.50 x 38 = £247.00 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 2 : www.mathsrevision.com Adam is a joiner his hourly rate of pay is £10.50. He works 40 hours a week. What is his basic pay? Pay is = £10.50 x 40 = £420.00 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General www.mathsrevision.com Now try Ex 1 a Ch 6 (page 64) 24-Apr-14 Created by Mr. Lafferty Maths Dept. Starter Questions General Q1. Find the value of y when 2y + 6 = 24 www.mathsrevision.com Q2. Find the two missing angles Q3. Find two numbers that add give 10 and divide to give 4. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Wages & Salaries General Learning Intention Success Criteria www.mathsrevision.com • To explain how to work out 1. Understand the term hourly hourly rates. rate. 2. Calculate hourly rates given the wage and hours worked. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 1 : www.mathsrevision.com Nathan the gardener is paid £ 200 a week. He works 40 hours a week. What is his hourly rate? Hourly rate is = £200 ÷ 40 = £5.00 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 2 : www.mathsrevision.com Chris starts a new job and is promised a hourly rate of £4.90. His wage for the week was £153.60 for 32 hours of work. Was the employers promise true. Pay is = £153.60 ÷ 32 = £4.80 False ! 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General www.mathsrevision.com Now try Ex 1 b Ch 6 (page 66) 24-Apr-14 Created by Mr. Lafferty Maths Dept. Starter Questions General www.mathsrevision.com 24-Apr-14 Created by Mr. Lafferty Maths Dept. Wages & Salaries General Learning Intention Success Criteria www.mathsrevision.com • To explain how to work out 1. Calculate weekly and monthly weekly and monthly wages wages from annual salary. from annual salary. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 1 : www.mathsrevision.com Michael gets an annual salary of £ 30 000. What is his monthly wage. What is his weekly wage. Monthly wage: £30 000 ÷ 12 = £ 2 500 Weekly wage : £30 000 ÷ 52 = £ 576.92 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General www.mathsrevision.com Now try Ex 2 a Ch 6 (page 68) 24-Apr-14 Created by Mr. Lafferty Maths Dept. Starter Questions General www.mathsrevision.com 24-Apr-14 Created by Mr. Lafferty Maths Dept. Wages & Salaries General Learning Intention Success Criteria www.mathsrevision.com • To explain how to work out 1. Understand the term annual annual salary / wage. salary. 2. Calculate annual salary. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Annual Wage / Salary www.mathsrevision.com How much a person is paid in a year. 12 months in a year 52 weeks in a year 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 1 : www.mathsrevision.com Georgia gets paid £ 1 500 in a month. What is her annual Salary. Annual salary is = £1 500 x 12 = £ 18 000 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 2 : www.mathsrevision.com Caitlin is a shop assistant and gets paid £239 a week. How much is her annual salary. Annual Salary =£239 x 52 = £ 12 428 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 3 : www.mathsrevision.com A mechanic gets paid £1 100 a month. A bus driver gets paid £260 a week. Who gets the better annual salary. Mechanic : Annual Salary = £1 100 x 12 = £ 13 200 Bus Driver : Annual Salary = £260 x 52 = £ 13 520 Bus driver has better annual wage 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General www.mathsrevision.com Now try Ex 2 b Ch 6 (page 70) 24-Apr-14 Created by Mr. Lafferty Maths Dept. Starter Questions General www.mathsrevision.com 24-Apr-14 Created by Mr. Lafferty Maths Dept. Wages & Salaries General Learning Intention Success Criteria www.mathsrevision.com • To explain how to work out 1. Calculate a percentage rise. new wages after a wage rise. 2. Calculate new wages after a percentage rise. 24-Apr-14 Created by Mr. Lafferty Maths Dept. How to find % of a quantity using a calculator General example Find www.mathsrevision.com Step 1 : Convert % to a decimal of means x Step 2 : Step 3 : Do sum Calculator Keys 4 1 0 0 x 4 8 0 = 19.2 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 2 : www.mathsrevision.com Rachael earned an annual salary of £ 20 000 last year. She receives a 10% rise this year. What is her new salary. Rise : 10 ÷ 100 x £20 000 = £ 2 000 New salary : £20 000 + £2 000 = £ 22 000 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 3 : www.mathsrevision.com Kerr earned an annual salary of £ 18 000 last year. He receives a 4% rise this year. What is his new salary. Rise : 4 ÷ 100 x £18 000 = £ 720 : New salary £18 000 + £720 = £ 18 720 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General www.mathsrevision.com Now try Ex 3 Ch 6 (page 72) 24-Apr-14 Created by Mr. Lafferty Maths Dept. Starter Questions General Q1. How much should I get if I work www.mathsrevision.com 30 hours at a rate of £5 per hour. Q2. Find the missing angle 33o Q3. Find 25% of 50 24-Apr-14 Created by Mr. Lafferty Maths Dept. Wages & Salaries General Learning Intention Success Criteria www.mathsrevision.com • To explain how to work out 1. Understand the term wages when commission is commission. involved. 2. Calculate wages involving commission. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Commission : Money earned based on how much you sell. Usual expressed as a www.mathsrevision.com percentage. Write some people who get commission Car sales person Double glazing sales person 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 1 : www.mathsrevision.com Bob sells car. He is paid a commission of 5% on any cars he sells. Last week he sold £ 20 000 worth of cars. How much commission was he paid ? Commission : 5 ÷ 100 x £20 000 = £ 1 000 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 2 : www.mathsrevision.com Henrik gets paid £60 for playing for his local football team. He gets a bonus of £30 for every goal he scores. If he scored a hat-trick in a game. How much was he paid. Paid : 60 + 3 x 30 = 60 + 90 = £150 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General www.mathsrevision.com Now try Ex 4 Ch 6 (page 74) 24-Apr-14 Created by Mr. Lafferty Maths Dept. Starter Questions General Q1. Find value of x when x + 4 = 16 www.mathsrevision.com Q2. Find two missing angles 32o Q3. Find 20 % of 150 24-Apr-14 Created by Mr. Lafferty Maths Dept. Wages & Salaries General Learning Intention Success Criteria www.mathsrevision.com • To explain how to work out 1. Understand the terms wages which include overtime, ‘double time’ and overtime rates. ‘time and a half’. 2. Calculate wages with overtime. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Overtime : When you do extra work above your basic hours. www.mathsrevision.com You get a better hourly rate for overtime. Write down the two common rates of overtime Double time Time and a (x2) half (x1.5) 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 1 : www.mathsrevision.com Sean the painter works for £6.00 per hour. His overtime rate is “Double time”. What does he get paid for 4 hours overtime. 4 hours Overtime is = 4 x 2 x £6 = £48.00 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 2 : www.mathsrevision.com Jordan the gardener works a basic 40 hours a week. He does 5 hours overtime at ‘double time’ on Saturday. His hourly rate is £8 per hour. Work out his overtime pay and then his total pay. 5 hours overtime is = 5 x £8 x 2 = £80.00 40 hours basic time is = 40 x £8 = £320.00 Total pay is = £320 + £80 = £400 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 3 : www.mathsrevision.com Tim the shop assistance works a basic 30 hours a week. He does 4 hours overtime at ‘time and a half’ on Sunday. His hourly rate is £6 per hour. Work out his overtime pay and then his total pay. 4 hours overtime is = 4 x £6 x 1.5 = £36.00 30 hours basic time is = 30 x £6 = £180.00 Total pay is = £36 + £180 = £216.00 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General www.mathsrevision.com Now try Ex 5 Ch 6 (page 76) 24-Apr-14 Created by Mr. Lafferty Maths Dept. Starter Questions General • Two numbers add to give 12 and divide www.mathsrevision.com to give 3. Find the two numbers. 2. Two numbers subtract to give 5 and multiply to 24. Find the two numbers. 3. Make your own question up. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Wages & Salaries General Learning Intention Success Criteria www.mathsrevision.com • To explain how to work out 1. Understand the terms Gross, NET pay. Deductions and NET pay. 2. Calculate NET pay. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime Write down General some Gross Pay : What you are paid by the employer. Deductions : Taken off your wages. www.mathsrevision.com Net Pay : Your take home pay. Tax National Insurance Pension 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 1 : www.mathsrevision.com Calculate the Net wage for the following : Gross Deductions Net Wage £15 550 £3 400 £12 150 £13 025 £2 905 £10 120 £22 430 £5 094 £17 336 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 2 : www.mathsrevision.com Calculate the Net wage for this payslip : 704.00 149.00 555.00 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 3 : www.mathsrevision.com Calculate the Net wage for this payslip : 739.15 207.76 531.39 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General www.mathsrevision.com Now try Ex 6 Ch 6 (page 80) 24-Apr-14 Created by Mr. Lafferty Maths Dept. Starter Questions General Q1. Factorise 3x + 15 www.mathsrevision.com Q2. Find two missing angles 32o Q3. Find 5 % of 150 24-Apr-14 Created by Mr. Lafferty Maths Dept. Wages & Salaries General Learning Intention Success Criteria www.mathsrevision.com • To explain how to work out 1. Be able to calculate harder harder commission commission problems. problems. 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Commission : Money earned based on how much you sell. Usual expressed as a www.mathsrevision.com percentage. Write some people who get commission Car sales person Double glazing sales person 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 1 : www.mathsrevision.com Liam sells car. He is paid a commission of 15% on any Windows he sells. Last month he sold £ 30 000 worth of windows. How much commission was he paid ? Commission : 15 ÷ 100 x £30 000 = £ 4500 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 2 : www.mathsrevision.com Caitlin is a door to door cosmetic saleswoman. She gets 7% commission on everything over £500 she sells. During the Christmas period she sold £6500 Worth of products. How much commission was she paid ? Value over £ : £6500 – £500 = £ 6000 Commission : 7 ÷ 100 x £6 000 = £ 420 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General Example 3 : www.mathsrevision.com Lewis gets a basic salary of £150 a week plus 5% of the total value of doors he sells. He sold £4000 worth of doors last week. How much did he earn last week ? Commission : 5 ÷ 100 x £4 000 = £ 200 Total wage : £140 + £200 = £ 340 24-Apr-14 Created by Mr. Lafferty Maths Dept. Salaries & Overtime General www.mathsrevision.com Now try Extension Booklet 4E (page 25) 24-Apr-14 Created by Mr. Lafferty Maths Dept.