Question

Elise is a project manager in 2016 she earned a monthly salary of £2100

in 2017 she was awarded a 3% increase on her monthly salary
given that in 2017 elise worked 42 hours per week for 45 weeks
work out her average pay per hour for the year

Answer 1

Elise's average pay per hour for the year 2017 was £11.88.

Explanation:

First, we need to calculate Elise's monthly salary in 2017 after the 3% increase:

3% of £2100 = 0.03 x £2100 = £63

Elise's new monthly salary in 2017 = £2100 + £63 = £2163

Next, we need to calculate her total earnings in 2017:

Total earnings = monthly salary x number of months worked

Elise worked for 45 weeks in 2017, which is approximately 10.4 months:

Total earnings = £2163 x 10.4 = £22,477.20

Finally, we can calculate her average pay per hour for the year:

Total number of hours worked = 42 hours/week x 45 weeks = 1890 hours

Average pay per hour = total earnings / total number of hours worked

Average pay per hour = £22,477.20 / 1890 hours = £11.88 per hour

Answer 2

I got $13.73 per hour

Explanation:

If you multiply 2100 by 12 months you get $25200 for an annual salary before percent increase.

Then you include the 3% salary increase each month 25200 x .03 = 756 then add the two 25200 + 756 = 25956 OR you can calculate the longer way by doing each individual month, either way it will be the same answer. 2100 x .03 = 63 then 2100 + 63 = 2163 then 2163 x 12 = 25956

Then you divide 25956 by the number of weeks worked in the year. 25956/45 = 576.8

So, each week $576.8 was earned.

Then to get an hourly rate, you divide this by the number of hours worked in each week. 576.8/42 = 13.73

So, the hourly rate is $13.73.

I hope this helped :)