1. Assuming a 40-hour week, convert the following annual salaries to (a) monthly (b) fortnightly (c) weekly and (d) hourly pay. Showall your calculations.
(i) €45 000 (ii) €52 800 (iii) €74 850
(iv) €23 200 (v) €99 500
Remember: 1 year = 52 weeks Monthly wage = annualwage
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We cannot multiply weekly wage by 4 to find monthly wage, as some months may contain more than 4 weeks.
2. Paola has a part time job in a local clothing store. She works every Saturday and Sunday from 10 am to 5 pm.
(i) How many hours does Paola work perweek? (ii) Paola earns €161 per week. How much does she earn per hour?
3. Louis sells electrical goods for a living. He is paid a basic salary of €2 000 per month plus 4% commission on any sales he makes. In April, he sells goods worth €8 000. Calculate his total pay for the month of April.
4. The costs given for the following items do not include VAT. Copy and complete the table below, filling in the missing information to the nearest cent.
Item Camera
Games console Haircut Coffee
Holiday
Cost (excluding VAT) Rate of VAT VAT in euros Final price (including VAT) €450⋅00 €399⋅00 €11⋅75 €3⋅50
23% 23%
€2 599
13⋅5% 13⋅5% 23%
5. The cost of repairing a car is €466⋅17, which includes VAT at 23%. (i) How much VAT was paid? (ii) How much was the bill before VAT was added?
6. Cupcakes can be bought individually or in a box of twelve.
The prices for the items are given inclusive and exclusive of VAT respectively. VAT is charged at 23% on both items. Calculate the cheapest way to buy 12 cupcakes and the amount saved.
Box of 12 cupcakes €26 including VAT
Single cupcake €2⋅00 excluding VAT
7. A TV was sold for €720. This price included VAT at 23%. (i) What was the cost price of the TV excluding VAT? (ii) If the VAT rate was reduced to 15%, what would the new selling price of the TV be?