A catering assistant earns £1,850 gross pay per month. Their monthly deductions are £160.50 income tax, £64.20 National Insurance and £66.50 pension contributions.
Calculate the assistant's monthly net pay.
Explain why this amount is more useful than the assistant's gross pay when planning household spending.
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.