Question

Last week Lisa had a gross earning of $1441.30. Cathy receives a base salary of $375 and a commission on sales exceeding her quota of $5000. What is her rate of commission if her sales were $6560?

Answer 1

4.25%

Explanation:

Commision = 441.30 - 375 = 66.30

Commision is based on = 6560-5000 = 1560

Rate of Commision = (in decimal) 66.30/1560 = 0.0425

Rate of Commision = 0.0425 * 100 = 4.25 %