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-   -   Solving Business math problems (https://www.askmehelpdesk.com/showthread.php?t=695772)

  • Aug 21, 2012, 02:25 PM
    myrtisgo
    Solving Business math problems
    It's been a while I need help with finding the answer to this question

    My present salary is $1,560.00. I was offered a new position at $8.60 per hour with 1 1/2 hrs pay for overtime after 40 hours of work per weeke. How man hours of overtime per week would I need to earn the $390.00 per week.
  • Aug 21, 2012, 02:29 PM
    JudyKayTee
    Quote:

    Originally Posted by myrtisgo View Post
    It's been a while I need help with finding the answer to this question

    my present salary is $1,560.00. I was offered a new position at $8.60 per hour with 1 1/2 hrs pay for overtime after 40 hours of work per weeke. How man hours of overtime per week would I need to earn the $390.00 per week.


    AMHD doesn't do homework - and that's where this is posted.

    You need to post your formula and someone will come and correct you.

    If it helps at all in "your" new job you will be making $344.00. I will take a lot over overtime to make up the difference between your present salary of $1,560 and your new hourly of $344.00.

    In fact, do the math - the question makes no sense.

    You are presently making $39 an hour on salary and are going to accept $8.60/hour plus overtime?
  • Aug 22, 2012, 05:05 AM
    ArcSine
    I'd speculate that the problem assumes the $1,560 sal was monthly, which would correspond to the "...$390 per week..." in the closing question, if you take a simple 4-weeks-per-month assumption. The question's wording should've been clearer on that.

    But if that's indeed the case, then this'll help you kick it off...

    First, the # of hours required will have to exceed 40, as 40 • 8.6 = 344 < 390.

    Letting x denote the number of hours required to match the old pay rate per week, it sets up as the equality

    8.6x + 8.6(0.5)(x - 40) = 390.

    Solve for x. Round the answer appropriately, then check the result to make sure it works.
  • Aug 22, 2012, 05:26 AM
    JudyKayTee
    Quote:

    Originally Posted by ArcSine View Post
    I'd speculate that the problem assumes the $1,560 sal was monthly, which would correspond to the "...$390 per week..." in the closing question, if you take a simple 4-weeks-per-month assumption. The question's wording should've been clearer on that.

    But if that's indeed the case, then this'll help you kick it off...

    First, the # of hours required will have to exceed 40, as 40 • 8.6 = 344 < 390.

    Letting x denote the number of hours required to match the old pay rate per week, it sets up as the equality

    8.6x + 8.6(0.5)(x - 40) = 390.

    Solve for x. Round the answer appropriately, then check the result to make sure it works.


    Agreed, but there are 4.3 weeks in a month -
  • Aug 22, 2012, 05:48 AM
    ArcSine
    Agree completely, and that was my point about the unrealistic simplifying assumption the problem's question seemed to be making.

    The question mentions a $1,560 salary initially, then concludes with a reference to "the $390 per week" current pay rate. Those two amounts jibe if we assume the 1,560 to be the monthly salary, and further, that a month consists of just 4 weeks on the nose.

    You or I would've worded the problem more realistically, but those who draft many of these homework questions often seem to be unconcerned with these, uh, details. :-)
  • Aug 22, 2012, 08:53 AM
    JudyKayTee
    Quote:

    Originally Posted by ArcSine View Post
    Agree completely, and that was my point about the unrealistic simplifying assumption the problem's question seemed to be making.

    The question mentions a $1,560 salary initially, then concludes with a reference to "the $390 per week" current pay rate. Those two amounts jibe if we assume the 1,560 to be the monthly salary, and further, that a month consists of just 4 weeks on the nose.

    You or I would've worded the problem more realistically, but those who draft many of these homework questions often seem to be unconcerned with these, uh, details. :-)



    I like the homework that contains the word "I" - at least this person took the time to change "Mr X" to "I".

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