Dr. J's Maths.com
Where the techniques of Maths
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Earning money - Salaries.
Test Yourself 1 - Solutions.


 

Salary per time period. A person earns a salary of $60,000 p.a.

1. Her monthly rate is $60,000 ÷ 12 = $5,000.

2. Her weekly rate is $60,000 ÷ 52 = $1153.85.

3. Her daily rate is $60,000 ÷ 365 = $164.38.

4. Her hourly rate is

   
   
   
Salary increases.

5. Use the usual ratio approach for the two salary levels and the percentages for the before and after situations:
   
Annual leave loading

Yearly salary: $82,000.
Hence 4 weeks salary - $82,000 ÷ 13 = $6,307.69.
Deductions are irrelevant.

The holiday leave loading is 17½% -
|hence 17½% × $6,307.69 = $1,103.85

Hence Amy receives a total of $7,411.54
   
 

Ahmed receives a salary of $45,000 p.a. He wishes to take one week leave.

How much holiday leave loading will he receive?

Answer.Ahmed receives $151.44.