Question

Tom Lynd is paid $290.00 a week. His employer deducts 7.65% for social security taxes and $54.10 for withholding taxes and pension. What was Tom’s net pay?

Answer 1

Answer = $213.72
$\frac{7.65}{100} \times 290 = 22.185$
$290 - 22.185 - 54.10 = 213.715$
Net pay = $213.72 (Rounded off to 2 decimal points)