Sarah taking a 4 week holiday, Sarah received a payment of $2444. Which represented her holiday loading (17.5%) plus her usual pay over the 4 weeks.
Calculate her yearly salary (excluding the 17.5% holiday loading)(1year=52 weeks)
To calculate Sarah's yearly salary excluding the 17.5% holiday loading, we can start by finding her total pay for the 4-week period.
Let's assume Sarah's usual pay for 4 weeks is represented by 'P'. Since the holiday loading is 17.5%, we can calculate the holiday loading amount using the formula:
Holiday Loading = P * 17.5% = P * 0.175
The payment Sarah received, which includes both her holiday loading and usual pay, is $2444. So, we can write the equation:
P + P * 0.175 = $2444
We can simplify this equation as follows:
P * (1 + 0.175) = $2444
P * 1.175 = $2444
Now, let's solve for P:
P = $2444 / 1.175
P ≈ $2081.28
Now that we have found Sarah's usual pay for 4 weeks (approximately $2081.28), let's calculate her yearly salary excluding the 17.5% holiday loading.
Since 1 year has 52 weeks, we can multiply her pay for 4 weeks by 13 to get her pay for 52 weeks:
Yearly Salary = P * 13
Yearly Salary ≈ $2081.28 * 13
Yearly Salary ≈ $27,057.64
Therefore, Sarah's yearly salary (excluding the 17.5% holiday loading) is approximately $27,057.64.