Question

Jim earns a regular hourly rate of $5 and a premium hourly rate of $6. He worked 45 hours last week. What is his gross pay?

Answer 1

I am assuming premium hourly rate is overtime....if so, then..
(40 * 5) + (5 * 6) = 200 + 30 = $230

if premium hourly rate is not overtime, then disregard this answer.

Answer 2

The premium is the overtime.

Total time = 45 hours.

40 hours of regular time at $5, and 5 hours of overtime.
 
Total = 40*5 +  5 * 6 =  200 + 30 =  $230