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2.7 The labour market

2.7 The labour market

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Question 5

A worker earns £15 an hour for 40 hours and receives a £100 bonus. Deductions are £90 income tax, £45 National Insurance and a pension contribution equal to 5% of gross pay. What is net pay?

[1]
A

£530

B

£535

C

£565

D

£665

Markscheme

2.7 The labour market Questions

  1. GCSE
  2. /Economics
  3. /2.7 The labour market

34 exam-style questions on OCR GCSE Economics 2.7 The labour market, covering 2.7.1 Role and operation of the labour market, 2.7.2 Determination of wages, 2.7.3 Explain gross and net pay, and 2.7.4 Calculate gross and net pay. Each one has a worked solution and a mark scheme showing where the marks go.

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