Consumer Math Semester Exam Review

Front

What is the formula to calculate total pay?

Back

Total Pay = (Hours Worked × Hourly Wage) + Tips

Front

How do you calculate the Take-Home percent of Gross Pay?

Back

Take-Home Percent = (Net Pay / Gross Pay) × 100

Front

Solve for x: 14 = 0.1x

Back

x = 140

Front

Compute: ((4 + 9) - 20/2) + 8

Back

Result = 4

Front

How do you calculate hourly wage from total pay and hours worked?

Back

Hourly Wage = Total Pay / Hours Worked

Front

What is the definition of Gross Pay?

Back

Gross Pay is the total amount earned before any deductions.

Front

What is Net Pay?

Back

Net Pay is the amount received after deductions from Gross Pay.

Front

What does it mean to work 'overtime'?

Back

Overtime refers to hours worked beyond the standard workweek, often paid at a higher rate.

Front

What is the significance of tips in total pay calculation?

Back

Tips are additional earnings that can significantly increase total pay, especially in service jobs.

Front

How do you convert a decimal to a percentage?

Back

Multiply the decimal by 100 to convert it to a percentage.