Question

29. Find the commission rate on the following sales. Sales $90,800 earnings $7,264

Answer 1

The commission rate is 8.39%

Explanation:

Given data

• The total sales made = $90,800

,

• Earnings = $7, 624.00

As you can see from the question provided, the earnings made on the total sales is $7, 624.00

Let the commission rate be x

To find the commission rate, we will be using the below formula

`\begin{gathered} \text{part = whole x percentage} \\ 7,\text{ 624 = 90,800 }\cdot\text{ x \%} \\ 7,\text{ 624 = 90,800x} \\ \text{Divide both sides by 90,800} \\ \frac{7,624}{90,\text{ 800}}\text{ = }\frac{90,\text{ 800x}}{90,\text{ 800}} \\ x\text{ = }\frac{7,\text{ 624}}{90,\text{ 800}}\text{ x 100\%} \\ x\text{ = 0.0839 }\cdot\text{ 100\%} \\ x\text{ = 8.39\%} \end{gathered}`

Hence, the commission rate is 8.39%