On stat holidays Dan is paid 215% of his regular hourly rate if he works overtime hours. His regular wage is $41.62 an hour. What is his overtime rate on stat holidays?
Question
On stat holidays Dan is paid 215% of his regular hourly rate if he works overtime hours. His regular wage is $41.62 an hour. What is his overtime rate on stat holidays?
Solution
To calculate Dan's overtime rate on stat holidays, follow these steps:
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Understand that 215% is equivalent to 2.15 in decimal form.
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Multiply Dan's regular hourly rate by 2.15.
So, 89.483
Therefore, Dan's overtime rate on stat holidays is $89.48 per hour.
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