Question

Jim receives holiday loading of 17.5% of 4 weeks pay. His loading was $996.80 Calculate his normal weekly pay Find his normal hourly pay rate, if he usually works a 40 hour week

Answer 1

Jim's normal weekly pay is calculated by dividing the holiday loading amount by 17.5% and then dividing that by 4. His hourly rate is then found by dividing the weekly pay by 40 hours.

Step-by-step explanation:

The student is asking how to calculate the normal weekly pay and the normal hourly pay rate for Jim, who receives a holiday loading of 17.5% of 4 weeks pay which totaled to $996.80. To find Jim's normal weekly pay, we first calculate the total holiday pay without the loading by dividing the given loading amount by 17.5% and then divide the result by 4 to find the weekly pay. Afterward, to find the hourly rate, we divide the weekly pay by the number of hours worked in a week, which is 40 hours.

First, let's find the total holiday pay without the loading:

Total Holiday Pay = $996.80 / 0.175
Total Holiday Pay = $5692.57 (rounded to two decimal places)

Now, we find the normal weekly pay:

Normal Weekly Pay = $5692.57 / 4
Normal Weekly Pay = $1423.14 (rounded to two decimal places)

Lastly, lets calculate the normal hourly rate:

Normal Hourly Rate = $1423.14 / 40
Normal Hourly Rate = $35.58 (rounded to two decimal places)