Enter the value of the contract ($) and the number of hours needed for the contract (hrs) into the Contract Rate Calculator. The calculator will evaluate the Contract Rate. 

Contract Rate Formula

The following two example problems outline the steps and information needed to calculate the Contract Rate.

CONR = VC / T
  • Where CONR is the Contract Rate ($/hr)
  • VC is the value of the contract ($) 
  • T is the number of hours needed for the contract (hrs) 

To calculate the contract rate, divide the value of the contract by the hours needed for the contract.

How to Calculate Contract Rate?

The following example problems outline how to calculate Contract Rate.

Example Problem #1:

  1. First, determine the value of the contract ($).
    • The value of the contract ($) is given as: 5,000.
  2. Next, determine the number of hours needed for the contract (hrs).
    • The number of hours needed for the contract (hrs) is provided as: 10.
  3. Finally, calculate the Contract Rate using the equation above: 

CONR = VC / T

The values provided above are inserted into the equation below and computed.

CONR = 5000 / 10 = 500 ($/hr)

Example Problem #2: 

For this problem, the variables required are provided below:

value of the contract ($) = 6,000

number of hours needed for the contract (hrs) = 20

Test your knowledge using the equation and check your answer with the calculator..

CONR = VC / T = ?