To find Jason's net pay, we need to follow these steps:
1. Identify the given values:
- Salary per fortnight: K1,329.40
- Tax rate: [tex]\( 7 \frac{1}{2} \% = \frac{7.5}{100} = 0.075 \)[/tex]
- Insurance deduction: K20
- Savings and loans deduction: K50
- Superannuation savings deduction: K50
2. Calculate the tax amount:
[tex]\[
\text{Tax} = 0.075 \times 1329.40 = 99.705
\][/tex]
3. Calculate total deductions:
[tex]\[
\text{Total deductions} = \text{Tax} + \text{Insurance} + \text{Savings and loans} + \text{Superannuation savings}
\][/tex]
[tex]\[
\text{Total deductions} = 99.705 + 20 + 50 + 50 = 219.705
\][/tex]
4. Calculate the net pay:
[tex]\[
\text{Net pay} = \text{Salary} - \text{Total deductions}
\][/tex]
[tex]\[
\text{Net pay} = 1329.40 - 219.705 = 1109.695
\][/tex]
So, Jason's net pay per fortnight would be K1,109.69.
The correct option is:
B. K1,109.69
