1. Annual Wage / Salary How much a person is paid in a year Wages & Salaries 12 months in a year 52 weeks in a year

2. £12 428 ÷ 52 = £ 239 Weekly wage = Example 1 : A shop assistant gets paid £12 428 a year. How much is her weekly wage. Wages & Salaries

3. £1 100 x 12 = £ 13 200Annual Salary = Example 2 : A mechanic gets paid £1 100 a month. A bus driver gets paid £260 a week. Who gets the better annual salary. Wages & Salaries Mechanic : Bus Driver : £260 x 52 = £ 13 520Annual Salary = Bus driver has better annual wage

4. £10.50 x 40 = £420Weekly Pay is = Example 3 : Jim is a joiner his hourly rate of pay is £10.50. He works 40 hours a week. What is his basic weekly pay? What is his annual salary? Wages & Salaries £420 x 52 = £21 840Annual Salary =

5. Example 4 : Daryl gets an annual salary of £ 30 000. What is his monthly wage. What is his weekly wage. Wages & Salaries £30 000 ÷ 12 = £ 2 500 Monthly wage: Weekly wage : £30 000 ÷ 52 = £ 576.92

6. Overtime :When you do extra work above your basic hours. Time Sheets & Overtime You get a better hourly rate for overtime. Write down the two common rates of overtime Double time (x2) Time and a half (x1.5)

7. 4 x £12 = £48.004 hours Overtime is = Example 1 : Sean the painter works for £6.00 per hour. His overtime rate is “Double time”. What does he get paid for 4 hours overtime. Time Sheets & Overtime Overtime Rate = Double time = £12.00 per hour £6.00 x 2

8. 5 x £16 = £80.005 hours overtime is = Example 2 : 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. Time Sheets & Overtime 40 x £8 = £320.0040 hours basic time is = Total pay is = £320 + £80 = £400 Overtime Rate =£8 x 2= £16.00 per hour

9. Salaries & Overtime Time and a half To calculate ‘time and a half’ overtime Time can be described as the whole thing or 1 Half of time can be described as So…….. time and a half can be described as 1.5 Therefore to calculate time and a half we ……… ……… Multiply by 1.5 0.5

10. 4 x £9 = £36.004 hours overtime is = 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. Time Sheets & Overtime 30 x £6 = £180.0030 hours basic time is = Total pay is = £36 + £180 = £216.00 Overtime rate =1.5 x £6= £9.00

11. Find Example How to find % of a quantity using a calculator ‘of’ means ‘times’ 4% of £480 4 ÷ 100 x £480 = £19.20

12. Example 1 : Rachael earned an annual salary of £ 20 000 last year. She receives a 10% rise this year. What is her new salary. Salaries & Overtime 10 ÷ 100 x £20 000 = £ 2 000Rise : New salary :£20 000 + £2 000 = £ 22 000 10% = 10 ÷100

13. Example 3 : Kerr earned an annual salary of £ 18 000 last year. He receives a 4% rise this year. What is his new salary. Salaries & Overtime 4 ÷ 100 x £18 000 = £ 720 Rise : New salary : £18 000 + £720 = £ 18 720 4% = 4 ÷ 100

14. Money earned based on how much you sell. Usually expressed as a percentage. Commission Name some people who get commission Car sales person Double glazing sales person Commission :

15. Example 1 : 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 10% = 20 000 ÷ 10= £2000 5% = 2000 ÷ 2= £1000 5% = 5 ÷ 100

16. Commission Example 2 A travel agent earns 7% commission on any holiday she sells. One day she sells £3200 worth of holidays. The next day she sell only £800 worth of holidays. Calculate her commission for the two days. Day 1:Commission =7 ÷ 100 x 3200 = £224 Day 2:Commission =7 ÷100 x 800 =£56 7% = 7 ÷ 100