Given that for a job standard time is 8 hrs, actual time taken is 6 hrs and the time rate is Rs 2 per hr What is the total wages under Halsey premium plan?
A. Rs. 12
B. Rs. 14
C. Rs. 16
D. Rs. 18
Answer: Option B
Solution(By Examveda Team)
Standard Time: 8 hrs Rate per Hour: Rs 2 Case (1): Time Taken = 8 hrs Earnings = 8 x 2 = Rs 16 Case (2): Time Taken = 10 hrs Earnings = 10 x 2 = Rs 20 Case (3): Time Taken= 6 hrs Earnings: Time wages = 6x 2 = Rs 12 Bonus = ½ x 2 x 2 = Rs Rs 2 Thus, the worker’s total earnings are Rs 14 (time wages +bonus), if he has completed the work in 6 hrs, less than the standard time.Join The Discussion
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It is simply on the formula:
Earnings=Hours Worked x Rate per hour + (50% of the time saved) x Rate per hour
Which here is, 6X2+(50% of 2)X2
=12 + 1 X 2 .. which goes.. 12 + 2 = 14
I CANT UNDERSTAND THIS QUESTION
Wages under Halsey premium plan is paid for Actual time worked multiplied by agreed rate + half of time saving multiplied by agreed rate.
(6×2)+(8-6)×2 = Rs.14
T*R+50%(S-T)*R