An aquarium maintenance worker's monthly payroll record is shown.
| Item | Amount |
|---|---|
| Basic pay | £1,840.00 |
| Overtime pay | £175.00 |
| Bonus | £85.00 |
| Income tax | £210.50 |
| National Insurance | £84.20 |
| Pension contribution | £79.00 |
Calculate the worker's gross pay for the month.
Calculate the worker's net pay for the month.
Explain which of these two figures is more useful for judging the worker's monthly spending power.
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.