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Earning Money

We estimate MS1-11-EM is worth about 5 marks out of 100 under the new Mathematics Standard 1 syllabus. Practise 7 exam-style questions (multiple choice, numerical answer, multi-part) with instant marking and a worked solution for every question.

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Topic notes

Salaries and wages, overtime and penalty rates, commission, piecework, royalties, leave loading, taxable income, income tax from tax tables, PAYG, the Medicare levy, net pay and tax refunds, with step-by-step worked examples.

  1. 1What you need to know
  2. 2Salaries, wages and penalty rates
  3. 3Commission, piecework and royalties
  4. 4Taxation
  5. 5Common mistakes
  6. 6Exam tips
  7. 7Links to other topics
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Example questions

Example 1 · 1 mark · multiple choice

Priya's annual salary is $78 650. How much is she paid each fortnight?

  1. A$1512.50
  2. B$3025.00
  3. C$6554.17
  4. D$3277.08

Example 2 · 1 mark · multiple choice

Kai earns $28.40 per hour for a 38-hour week. Any extra hours are paid at time-and-a-half. One week he works 44 hours. What is his gross pay for that week?

  1. A$1420.00
  2. B$1334.80
  3. C$1874.40
  4. D$1249.60

Answers and worked solutions appear when you practise these questions.

Other Mathematics Standard 1 topics