1. A sales agent receives 15% commission on all products that he sells. If the sales agent sold P230,450 worth of products this month, what was his total commission for the month. 2. Lawrence gets a base monthly salary of P14,500. As a sales agent, he must sell P75,000 worth of items per month. He also makes a 7.5% commission on all sales beyond the monthly quota. If Lawrence sold P140,000 worth of items this month, what is his total salary for the month including base and commission? 3. A real estate agent gets P11,000 basic salary per month plus some money by commission rates. If she gets 2.5% commission on the properties that she sells, find her total salary for the given month when she sold P1,200,000 worth of property?
1. A sales agent receives 15% commission on all products that he sells. If the sales agent sold P230,450 worth of products this month, what was his total commission for the month. 2. Lawrence gets a base monthly salary of P14,500. As a sales agent, he must sell P75,000 worth of items per month. He also makes a 7.5% commission on all sales beyond the monthly quota. If Lawrence sold P140,000 worth of items this month, what is his total salary for the month including base and commission? 3. A real estate agent gets P11,000 basic salary per month plus some money by commission rates. If she gets 2.5% commission on the properties that she sells, find her total salary for the given month when she sold P1,200,000 worth of property?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:III.
Commission
Analyze and solve the following problem.
1. A sales agent receives 15% commission on all products that he sells. If the sales agent sold
P230,450 worth of products this month, what was his total commission for the month.
2. Lawrence gets a base monthly salary of P14,500. As a sales agent, he must sell P75,000
worth of items per month. He also makes a 7.5% commission on all sales beyond the monthly
quota. If Lawrence sold P140,000 worth of items this month, what is his total salary for the
month including base and commission?
3. A real estate agent gets P11,000 basic salary per month plus some money by commission
rates. If she gets 2.5% commission on the properties that she sells, find her total salary for the
given month when she sold P1,200,000 worth of property?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education