Wages & Salaries

1. Wages & Salaries Hourly Rates / Wages Wages / Hourly Rates Annual Salaries Weekly / Monthly Wages Wage Rises www.mathsrevision.com Commission Wages Overtime Pay Gross - Deductions = NET pay Created by Mr. Lafferty Maths Dept.

2. Starter Questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

3. Wages & Salaries Learning Intention Success Criteria 1. Understand the terms wage and salary. • To explain how to calculate wages. • Calculate wage / salary given hourly rate. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

4. Salaries & Overtime Wages / Salary : How much a person is paid to do a job. Can be measured weekly, monthly or annually. www.mathsrevision.com Hourly rate : How much you get paid for an hours work. Created by Mr. Lafferty Maths Dept.

5. Salaries & Overtime Example 1 : Mick the mechanic hourly rate of pay is £6.50. Last week he worked 38 hours. What is his basic pay? www.mathsrevision.com Pay is = £6.50 x 38 = £247.00 Created by Mr. Lafferty Maths Dept.

6. Salaries & Overtime Example 2 : Jim is a joiner his hourly rate of pay is £10.50. He works 40 hours a week. What is his basic pay? www.mathsrevision.com Pay is = £10.50 x 40 = £420.00 Created by Mr. Lafferty Maths Dept.

7. Salaries & Overtime Now try Ex 1 a Ch 6 (page 64) Odd questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

8. Q1. Find the value of y when 2y + 6 = 24 Starter Questions Q2. Find the two missing angles www.mathsrevision.com Q3. Find two numbers that add give 10 and divide to give 4. Created by Mr. Lafferty Maths Dept.

9. Wages & Salaries Learning Intention Success Criteria 1. Understand the term hourly rate. • To explain how to work out hourly rates. • Calculate hourly rates given the wage and hours worked. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

10. Salaries & Overtime Example 1 : Bill the gardener is paid £ 200 a week. He works 40 hours a week. What is his hourly rate? www.mathsrevision.com Hourly rate is = £200 ÷ 40 = £5.00 Created by Mr. Lafferty Maths Dept.

11. Salaries & Overtime Example 2 : Paul 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. www.mathsrevision.com Pay is = £153.60 ÷ 32 = £4.80 False ! Created by Mr. Lafferty Maths Dept.

12. Salaries & Overtime Now try Ex 1 b Ch 6 (page 66) Odd questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

13. Starter Questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

14. Wages & Salaries Learning Intention Success Criteria 1. Understand the term annual salary. • To explain how to work out annual salary / wage. • Calculate annual salary. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

15. Salaries & Overtime Annual Wage / Salary : How much a person is paid in a year. 12 months in a year www.mathsrevision.com 52 weeks in a year Created by Mr. Lafferty Maths Dept.

16. Salaries & Overtime Example 1 : Shaun gets paid £ 1 500 in a month. What is his annual Salary. www.mathsrevision.com Annual salary is = £1 500 x 12 = £ 18 000 Created by Mr. Lafferty Maths Dept.

17. Salaries & Overtime Example 2 : A shop assistant gets paid £239 a week. How much is her annual salary. www.mathsrevision.com Annual Salary = £239 x 52 = £ 12 428 Created by Mr. Lafferty Maths Dept.

18. Salaries & Overtime Example 3 : A mechanic gets paid £1 100 a month. A bus driver gets paid £260 a week. Who gets the better annual salary. www.mathsrevision.com Mechanic : Annual Salary = £1 100 x 12 = £ 13 200 Annual Salary = £260 x 52 = £ 13 520 Bus Driver : Bus driver has better annual wage Created by Mr. Lafferty Maths Dept.

19. Salaries & Overtime Now try Ex 2 a Ch 6 (page 68) Odd questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

20. Starter Questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

21. Wages & Salaries Learning Intention Success Criteria • To explain how to work out weekly and monthly wages from annual salary. 1. Calculate weekly and monthly wages from annual salary. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

22. Salaries & Overtime Example 1 : William gets an annual salary of £ 30 000. What is his monthly wage. What is his weekly wage. www.mathsrevision.com £30 000 ÷ 12 = £ 2 500 Monthly wage: £30 000 ÷ 52 = £ 576.92 Weekly wage : Created by Mr. Lafferty Maths Dept.

23. Salaries & Overtime Now try Ex 2 b Ch 6 (page 70) Odd questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

24. Starter Questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

25. Wages & Salaries Learning Intention Success Criteria • To explain how to work out new wages after a wage rise. 1. Calculate a percentage rise. 2. Calculate new wages after a percentage rise. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

26. = 0 1 0 4 4 8 0 19.2 x How to find % of a quantityusing a calculator example Find Step 1 : Convert % to a decimal of means x Step 2 : Step 3 : Do sum www.mathsrevision.com Calculator Keys Created by Mr. Lafferty Maths Dept.

27. Salaries & Overtime Example 2 : Frances earned an annual salary of £ 20 000 last year. She receives a 10% rise this year. What is her new salary. www.mathsrevision.com Rise : 10 ÷ 100 x £20 000 = £ 2 000 New salary : £20 000 + £2 000 = £ 22 000 Created by Mr. Lafferty Maths Dept.

28. Salaries & Overtime Example 3 : Gerry earned an annual salary of £ 18 000 last year. He receives a 4% rise this year. What is his new salary. www.mathsrevision.com Rise : 4 ÷ 100 x £18 000 = £ 720 New salary : £18 000 + £720 = £ 18 720 Created by Mr. Lafferty Maths Dept.

29. Salaries & Overtime Now try Ex 3 Ch 6 (page 72) Odd questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

30. Q1. How much should I get if I work 30 hours at a rate of £5 per hour. Starter Questions Q2. Find the missing angle 33o Q3. Find 25% of 50 www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

31. Wages & Salaries Learning Intention Success Criteria • To explain how to work out wages when commission is involved. 1. Understand the term commission. 2. Calculate wages involving commission. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

32. Salaries & Overtime Commission : Money earned based on how much you sell. Usual expressed as a percentage. www.mathsrevision.com Write some people who get commission Car sales person Double glazing sales person Created by Mr. Lafferty Maths Dept.

33. Salaries & Overtime Example 1 : Ted 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 ? www.mathsrevision.com Commission : 5 ÷ 100 x £20 000 = £ 1 000 Created by Mr. Lafferty Maths Dept.

34. Salaries & Overtime Example 2 : 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. www.mathsrevision.com 60 + 3 x 30 = 60 + 90 = £150 Paid : Created by Mr. Lafferty Maths Dept.

35. Salaries & Overtime Now try Ex 4 Ch 6 (page 74) Odd questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

36. Q1. Find value of x when x + 4 = 16 Starter Questions Q2. Find two missing angles 32o www.mathsrevision.com Q3. Find 20 % of 150 Created by Mr. Lafferty Maths Dept.

37. Wages & Salaries Learning Intention Success Criteria • To explain how to work out wages which include overtime rates. 1. Understand the terms overtime, ‘double time’ and ‘time and a half’. www.mathsrevision.com 2. Calculate wages with overtime. Created by Mr. Lafferty Maths Dept.

38. Salaries & Overtime Overtime : When you do extra work above your basic hours. You get a better hourly rate for overtime. www.mathsrevision.com Write down the two common rates of overtime Double time (x2) Time and a half (x1.5) Created by Mr. Lafferty Maths Dept.

39. Salaries & Overtime Example 1 : Percy the painter works for £6.00 per hour. His overtime rate is “Double time”. What does he get paid for 4 hours overtime. www.mathsrevision.com 4 hours Overtime is = 4 x £6 x 2 = £48.00 Created by Mr. Lafferty Maths Dept.

40. Salaries & Overtime Example 2 : John 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. www.mathsrevision.com 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 Created by Mr. Lafferty Maths Dept.

41. Salaries & Overtime Now try Ex 5 Ch 6 (page 76) Even questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

42. Salaries & Overtime Example 3 : 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. www.mathsrevision.com 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 Created by Mr. Lafferty Maths Dept.

43. Salaries & Overtime Now try Ex 5 Ch 6 (page 76) Even questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

44. Starter Questions • Two numbers add to give 12 and divide 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. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

45. Wages & Salaries Learning Intention Success Criteria • To explain how to work out NET pay. 1. Understand the terms Gross, Deductions and NET pay. www.mathsrevision.com 2. Calculate NET pay. Created by Mr. Lafferty Maths Dept.

46. Salaries & Overtime Write down some Gross Pay : What you are paid by the employer. Deductions : Taken off your wages. Net Pay : Your take home pay. Tax www.mathsrevision.com National Insurance Pension Created by Mr. Lafferty Maths Dept.

47. Salaries & Overtime Example 1 : Calculate the Net wage for the following : £12 150 www.mathsrevision.com £10 120 £17 336 Created by Mr. Lafferty Maths Dept.

48. Salaries & Overtime Example 2 : Calculate the Net wage for this payslip : 704.00 149.00 www.mathsrevision.com 555.00 Created by Mr. Lafferty Maths Dept.

49. Salaries & Overtime Example 3 : Calculate the Net wage for this payslip : 739.15 207.76 www.mathsrevision.com 531.39 Created by Mr. Lafferty Maths Dept.

50. Salaries & Overtime Now try Ex 6 Ch 6 (page 80) Even questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.