Math - financial arithmetics

Question 1

Overtime - definition of time and a half?

Answer 1

1.5 the usual rate of pay.

Question 2

Wages - How many weeks in a month?

Answer 2

4.3 weeks.

Question 3

Wages - How many weeks in a year?

Answer 3

52 weeks.

Question 4

Rates - km to m?

Answer 4

multiple by 1000.

Question 5

Percentages - to reduce smth by x%, multiply by 100%…

Answer 5

minus x%

Question 6

Gov allowances + pensions - age of pension?

Answer 6

65 years and 6 months.

Question 7

Wages - definition of salary?

Answer 7

yearly/annual/annum pay.

Question 8

Percentages - formula for increase/decrease

Answer 8

amount of increase/decrease divided by original amount X 100.

Question 9

Wages - definition of wages?

Answer 9

daily/weekly pay.

Question 10

Rates - m to km?

Answer 10

divide by 1000.

Question 11

Commission + piecework - if there is a percentage, what do you do?

Answer 11

divide by 100.

Question 12

If there is a problem sentence, what do you do at the end?

Answer 12

Write a sentence. (eg. therefore…)

Question 13

Wages - How many fortnights in a year?

Answer 13

26 fortnights.

Question 14

Percentages - to increase smth by x%, multiply by 100%…

Answer 14

add x%

Question 15

Overtime - definition of double time?

Answer 15

twice (2) the normal rate of pay.

Question 16

Personal budgets - fixed expenses?

Answer 16

rent/mortgage, medical insurance, registration, etc.

Question 17

Personal budgets - discretionary expenses?

Answer 17

entertainment, vacations, partying, food, clothing, sporting events, etc.

Question 18

Rates - how many seconds in an hour?

Answer 18

3600 seconds.

Question 19

Unit cost - formula?

Answer 19

price/amount

Question 20

Mark-ups and discounts - mark-up % formula?

Answer 20

amount of mark-up/original price X 100

Question 21

Mark-ups and discounts - discount % formula?

Answer 21

discount/original price X 100