Earning Money — NSW Year 10 Core Maths
Wages, overtime, commission, income tax, simple and compound interest, term payments and depreciation. Eight subtopics and 160 practice questions, each with a worked solution, aligned to NESA MA5-FIN-C-01 and MA5-FIN-C-02.
Earning Money in NSW Year 10 Core
Earning Money is the financial maths topic of Year 10 Core. It starts with how people are paid: wages and salaries, overtime and penalty rates, commission, piecework and leave loading, and the income tax and Medicare levy taken out of pay. It then turns to borrowing and saving, with simple interest, compound interest, buying on terms and the depreciation of things like cars and equipment.
The eight subtopics below follow that order, from a weekly wage to the value of a car years after it is bought. Earning Money is one of the 11 topics in NSW Year 10 Maths Core and sits within NESA's Number and Algebra strand (NESA outcomes MA5‑FIN‑C‑01 and MA5‑FIN‑C‑02). These skills are used in everyday life and lead into the financial maths of Stage 6 Standard and Advanced.
Subtopics
Earning Money: common questions
What is the difference between a wage and a salary?
A wage is paid at an hourly rate, so pay depends on the hours worked, including any overtime. A salary is a fixed yearly amount, usually paid weekly, fortnightly or monthly, whatever the hours.
How is overtime calculated?
Overtime is paid at a multiple of the normal hourly rate. Time-and-a-half is \(1.5\) times the rate and double time is \(2\) times, so at \(\$28\) an hour, time-and-a-half is \(\$42\) an hour.
What is the difference between simple and compound interest?
Simple interest is worked out on the original amount only, using \(I = Prn\). Compound interest is added to the balance each period, so later interest is earned on earlier interest: \(FV = PV(1 + r)^n\).
Which NESA outcomes cover Earning Money?
Earning money, income tax, simple interest and buying on terms come under MA5‑FIN‑C‑01. Compound interest and depreciation come under MA5‑FIN‑C‑02. Both are Core outcomes of the NSW Mathematics K–10 Syllabus (2022).
Is income tax in Year 10 maths based on real tax rates?
Yes. The questions use a resident tax table with the 2026–27 rates and the 2% Medicare levy, so students practise the same steps used on a real tax return: taxable income, tax payable and any refund.