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1.8 D) Salaries
1.8 D) Salaries
A salary is a fixed regular payment that is typically paid on a monthly basis, but it is often expressed as an annual sum. Salaries are usually paid to higher skilled individuals (most of your teachers will be on salaries).
If we are given the yearly salary, we can work out the monthly payments that an individual gets by dividing the year salary by 12. We divide by 12 because there are 12 months in a year.
If we are given the yearly salary, we can work out the monthly payments that an individual gets by dividing the year salary by 12. We divide by 12 because there are 12 months in a year.
Example 1
A sales manager is on £30,000 per year and they get paid monthly. What is their monthly pay?
We find the monthly pay by dividing by 12.
A sales manager is on £30,000 per year and they get paid monthly. What is their monthly pay?
We find the monthly pay by dividing by 12.
Our individual gets paid £2,500 per month.
Example 2
A warehouse worker is on a salary and gets paid £1,900 each month. What is her yearly salary?
The question is asking us to work out the salary from the monthly pay rather than the monthly pay from her salary; we are doing the opposite. Therefore, we multiply the monthly pay by 12 to obtain the salary.
A warehouse worker is on a salary and gets paid £1,900 each month. What is her yearly salary?
The question is asking us to work out the salary from the monthly pay rather than the monthly pay from her salary; we are doing the opposite. Therefore, we multiply the monthly pay by 12 to obtain the salary.
The individual’s salary is £22,800.