Basic Pay

Key words:

• Salary – amount paid every hour
• Hourly Rate – amount paid every hour

Salary

Salary is how much you are paid every year, if you know the salary, you divide by 12 to find out how much you would get every month.

Example : James has a salary of £23160, how much does he earn every month? (you can use a calculator to help with your answer but you must show your working.)

Working : £23160 ÷ 12

Answer : £1930

Hourly Rate

If you know how much you are paid every hour, you multiply it by the number of hours you work to find out how much you get paid? (you can use a calculator to help with your answer but you must show your working.)

Example 1 : Mark works 24 hours a week and gets paid £12.40 per hour, how much does he earn in a week?

Working : £12.40 x 24

Answer : £297.60