Question

Bianca is a stockbroker. Her earnings are based on a graduated commission. She receives 3% on any stock sale up to $100,000 and 5% for any amount over the $100,000. Last Saturday she sold $110,000 worth of stocks. How much did she make selling the stocks?

A. $3700
B. $3000
C. $5000
D. $3500

Answer 1

Bianca sold $110,000 worth of stocks
which mean = 100,000 + 10,000

For 0.03 on any stock sale up to $100,000
And 0.05 for any amount over the $100,000

∴ She made selling the stocks = 100,000 * 0.03 + 10,000 * 0.05
= 3000 + 500
= 3500

So, the right answer is option D