Finance · Guided Practice

Gross Income

4 questions with answers. Try each one before revealing the answer.

1
An employee is paid an annual salary of £42600\displaystyle \pounds 42600.
Calculate the gross monthly pay.
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2
A technician works 37.5\displaystyle 37.5 basic hours at £16.40\displaystyle \pounds 16.40 per hour.
She also works 6\displaystyle 6 hours of overtime, paid at time-and-a-half.
Calculate her gross pay for the week.
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3
A sales adviser is paid a basic monthly salary of £1900\displaystyle \pounds 1900.
She also earns 4%\displaystyle 4\% commission on monthly sales above £25000\displaystyle \pounds 25000.
Her sales for the month were £61000\displaystyle \pounds 61000.
Calculate her gross pay for the month.
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4
Contract A pays £420\displaystyle \pounds 420 per week.
Contract B pays £1850\displaystyle \pounds 1850 per month.
Assuming 52\displaystyle 52 weeks in a year, determine which contract pays more per year. Use your working to justify your answer.
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