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Financial Maths, STD2 EQ-Bank 17 MC

A company uses a spreadsheet to calculate employees' monthly salaries from their weekly salaries. The spreadsheet is shown below.
 

Which formula has been used in cell B7 to calculate the monthly salary?
 
  1. \(=\text{B4}^*4\)
  2. \(=\text{B4}^*52/12\)
  3. \(=\text{B4}^*12\)
  4. \(=\text{B4}/52^*12\)
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\(B\)

Show Worked Solution

\(\text{Monthly salary} = \dfrac{\text{weekly salary} \times 52}{12}\)

\(\therefore\ \text{Formula:}\ =\text{B4}^*52/12\)

\(\Rightarrow B\)