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Simon's salary has increased by 6% p.a. over the past three years. it is now $35730.40 p.a.
a) what did he earn per year three years ago
b) what is his gross monthly salary at the present rate
c) His deductions each month amount to 22.5% of his gross salary. what is his net pay per month?​

Respuesta :

Answer:

Step-by-step explanation:

The employee earns $10,100/month, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $124,740 during the year. He has requested that his employer withhold 12% of gross pay, which is to be contributed to a 401(k) plan. Taxable income for federal income tax withholding = $

(a) Simon's salary three years ago is $33586.576.

(b) Gross monthly salary at the present is $2798.88.

(C)  Net pay per month is $2169.09.

What is a word problem?

A word problem is a verbal description of a problem situation. It consists of few sentences describing a 'real-life' scenario where a problem needs to be solved by way of a mathematical calculation.

For the given situation,

The Simon's salary at present = $35730.40 p.a.

Increased rate = 6% = 0.06

(a) Simon's salary three years ago:

⇒ [tex]\$35730.40(0.06)[/tex]

⇒ [tex]\$2143.824[/tex]

Original salary of Simon,

⇒ [tex]35730.40-2143.824[/tex]

⇒ [tex]\$33586.576[/tex]

(b) Gross monthly salary at the present:

⇒ [tex]\frac{33586.57}{12}[/tex]

⇒ [tex]2798.88[/tex]

(C)  Net pay per month:

Deductions each month amount to 22.5% of his gross salary,

⇒ [tex]22.5\%=0.225[/tex]

⇒ [tex]2798.88(0.225)[/tex]

⇒ [tex]\$629.79[/tex]

Thus net pay per month,

⇒ [tex]2798.88-629.79[/tex]

⇒ [tex]\$2169.09[/tex]

Hence we can conclude that

(a) Simon's salary three years ago is $33586.576.

(b) Gross monthly salary at the present is $2798.88.

(C)  Net pay per month is $2169.09.

Learn more about word problems here

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