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A real estate agent's commission for selling houses is 2% for the first $900 000 of the sale price and 1.5% for any amount over $900 000.
Calculate the commission earned in selling a house for $1 200 000. (2 marks)
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`$22\ 500`
| `text{Commission}` | `=900\ 000 xx 2text{%} + (1\ 200\ 000-900\ 000) xx 1.5text{%}` |
| `=900\ 000 xx 0.02 + 300\ 000 xx 0.015` | |
| `=18\ 000 + 4\ 500` | |
| `=$22\ 500` |
Mark works as a car salesperson. His commission is based on a sliding scale of 5% on the first $3000 of his sales, 3% on the next $1500, and 1.5% thereafter.
What is Mark’s commission when his total sales are $6,250?
`D`
`text(Commission)`
`= (3000 xx text(5%)) + (1500 xx text(3%)) + (6250 – 4500) xx text(1.5%)`
`= (3000 xx 0.05) + (1500 xx 0.03) + (1750 xx 0.015)`
`= 150 + 45 + 26.25`
`= 221.25`
`=> D`
A real estate agent's commission for selling houses is 2% for the first $800 000 of the sale price and 1.5% for any amount over $800 000.
Calculate the commission earned in selling a house for $1 500 000. (2 marks)
`$26\ 500`
| `text{Commission}` | `=800\ 000 xx 2text{%} + (1\ 500\ 000-800\ 000) xx 1.5text{%}` | |
| `=800\ 000 xx 0.02 + 700\ 000 xx 0.015` | ||
| `=16\ 000 + 10\ 500` | ||
| `=$26\ 500` |
A salesman earns $200 per week plus $40 commission for each item he sells.
How many items does he need to sell to earn a total of $2640 in two weeks?
`B`
`text(Let items sold) = n`
`text{Wages over 2 weeks}\ (w)`
`= (2 xx 200) + 40n`
`= 400 + 40n`
`text(Find)\ n\ text(when)\ w = 2640:`
| `2640` | `= 400 + 40n` |
| `40n` | `= 2240` |
| `n` | `= 56` |
`=> B`
A real estate agent sells a house for `$400\ 000`. From the selling price he earns `$10\ 000`
for his services.
Which term is used to describe the money he earns?
`A`
`text(Commission)`
`=> A`
Bob is employed as a salesman. He is offered two methods of calculating his income.
\begin{array} {|l|}
\hline
\rule{0pt}{2.5ex}\text{Method 1: Commission only of 13% on all sales}\rule[-1ex]{0pt}{0pt} \\
\hline
\rule{0pt}{2.5ex}\text{Method 2: \$350 per week plus a commission of 4.5% on all sales}\rule[-1ex]{0pt}{0pt} \\
\hline
\end{array}
Bob’s research determines that the average sales total per employee per month is $15 670.
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i. `text(Method 1)`
| `text(Yearly sales)` | `= 12 xx 15\ 670` |
| `= 188\ 040` |
| `:.\ text(Earnings)` | `= text(13%) xx 188\ 040` |
| `= $24\ 445.20` |
ii. `text(Method 2)`
| `text(In 1 Year, Weekly Wage)` | `= 350 xx 52` |
| `= 18\ 200` |
| `text(Commission)` | `= text(4.5%) xx 188\ 040` |
| `= 8461.80` |
| `text(Total earnings)` | `= 18\ 200 + 8461.80` |
| `= $26\ 661.80` |
`:.\ text(Bob should choose Method 2.)`
Jane sells jewellery. Her commission is based on a sliding scale of 6% on the first $2000 of her sales, 3.5% on the next $1000, and 2% thereafter.
What is Jane’s commission when her total sales are $5670?
`B`
`text(Commission)`
`= (2000 xx text(6%)) + (1000 xx text(3.5%)) + (5670-3000) xx text(2%)`
`= (2000 xx 0.06) + (1000 xx 0.035) + (2670 xx 0.02)`
`= 120 + 35 + 53.40`
`= 208.40`
`=> B`