A salesperson earns a salary of $50,000 per year plus 5% commission on sales of $300,000. what is his total income?
Mathematics · High School · Tue Nov 03 2020
Answered on
Given:
salary earned in a year :$50,000
plus 5% commission on sales of $300,000.
Determine the total income.
Solution:
In order to determine the total income, we will add the commission with the salary earned in a year. Since we do not know what is the actual commission, we will start working on that first. We are given a percentage, and we need to convert it into decimal so that we can get the total amount on commission by multiplying the decimal value by $300,000. In changing a percentage into decimal, we will divide by 100, hence in changing the decimal into percentage, we will multiply by 100.
= 5/100
= 0.05
= (0.05) (300,000)
= $15,000
Add the total commission with the salary earned.
= $15,000 + $50,000
The salesperson total income in a year is $65,000