Question

Pam works on

commission from sellingE
stocks for a local bank.
She had a great month
and sold $2.5 million
dollars in investments
this month. She earns
4% commission on the
10% fee the bank
charges for sales over
$800,000. How much
did she earn?

Answer 1

$10,000

Step by step:

Banks earnings(10%)=x

Pams earnings(4% of banks earnings)=y

10% of $2.5m= $250,000=x

4%(1/25) of $250,000=$10,000=y