A coastal survey technician's payroll record for last year shows the following.
| Payroll record | Amount |
|---|---|
| Basic annual pay | £28,400 |
| Payment for weekend survey work | £1,600 |
| Income tax deduction | £4,200 |
| National Insurance deduction | £1,800 |
| Pension contribution | 5% of gross pay |
By how much was the technician's annual net pay lower than their annual gross pay?
£7,500
£22,500
£7,200
£7,420
80 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.