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From 1 July 2014 to 28 July 2014 workers in the metal and engineering industry went on strike, demanding a 15% increase in wages as from 1 July 2014 - NSC Mathematical Literacy - Question 2 - 2016 - Paper 2
Question 2
From 1 July 2014 to 28 July 2014 workers in the metal and engineering industry went on strike, demanding a 15% increase in wages as from 1 July 2014. Employers appli... show full transcript
Worked Solution & Example Answer:From 1 July 2014 to 28 July 2014 workers in the metal and engineering industry went on strike, demanding a 15% increase in wages as from 1 July 2014 - NSC Mathematical Literacy - Question 2 - 2016 - Paper 2
Step 1
Show, with calculations, how this loss was calculated.
Answer
To calculate the loss during the strike for a worker on Wage Rate A:
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Determine the Gross Monthly Wage:
- Gross Monthly Wage for Wage A = R11 000
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Calculate the Daily Wage:
- Daily Wage = ( \frac{\text{Monthly Wage} \times 12}{365} = \frac{R11 000 \times 12}{365} = R 365.75 )
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Calculate Loss for 28 Days of Strike:
- Loss = Daily Wage ( \times 28 = R 365.75 \times 28 = R 10 834.85 )
Thus, the total loss for the worker on Wage Rate A during the strike amounts to R10 834,85.
Step 2
Hence, state ONE other negative financial implication of a prolonged strike for a worker.
Answer
One other negative financial implication of a prolonged strike for a worker could be increased debt obligations. Without receiving wages, workers may struggle to meet financial commitments such as rent or loans, leading to unpaid bills and accumulating debt.