Year 9 Financial Math Test

A salary is a

• amount you get paid each hour

• An amount that changes due to over time.

• a fixed annually amount

Susan annual salary of $60 000. How much is she paid weekly?

Frank has casual work at a food story. He is paid $14.27 per hour Monday to Saturday and $25.60 per hour on Sunday. Calculate his wage for a week in which he worksed from 5pm to 10pm in Friday and from 6pm to 9pm on Sunday.

Overtime is paid

• when salary workers work more then there regular hours each week

• when wage workers work more then there regular hours each week

• When you get paid more for good behaviour

• When the employee receives a promotion

Stacy works as a waitress and earns $24 per hour. Last week she received the normal rate for 30 hours of work as well as time and a half for 3 hours of overtime and double time for 5 hours of work on Sunday. What was her total wage?

• $1000

• $699

• $1036.85

• $1068

Carl works as an electrician and receives $40 per hour for a 36-hour working week. If Carl works ‘at heights’ he receives $2.50 per hour height loading. Calculate Carl’s wage in a week where he works 15 hours at heights.

• $37.50

• $1375.20

• $1477.50

• $1412.70

Royalties are usually paid to people like

• Tradies

• Teachers

• Musicians

• Salespeople

Sting is a songwriter who is paid a royalty of 12% on all sales of his music. Calculate the royalty that Sting earns if a song he writes sells CDs to the value of $300000.

Lily, a car salesperson is paid a retainer of $400per week, plus a commission of 8% of the profits made by the company on cars that she sells.

How much does Lily earn in a week when no sales are made?

• $350

• $400

• $730

• $3600

A real estate agency receives 2% commission on the first $200 000 of a sale and 3% on the remainder. How much commission is received on the sale of a $280 000 property?

• $6400

• $5000

• $2654

• $8400