Piper is paid an hourly rate plus 16% commission on everything he sells. One week, he was paid $365 for working 20 hours and selling $1500 worth of camera equipment. What is his hourly rate?
How do I set this up?
dk
0.16 * 1500 = 240
20x + 240 = 365
20x = 125
x = ?
To find Piper's hourly rate, we can follow these steps:
Step 1: Calculate the commission earned by Piper based on his sales amount.
Commission = (16 / 100) * Sales Amount
Step 2: Determine Piper's weekly earnings from his hourly rate and commission.
Weekly Earnings = Hourly Rate * Hours Worked + Commission
Step 3: Set up an equation using the given information.
Weekly Earnings = $365
Hours Worked = 20
Sales Amount = $1500
Now, we can substitute the values into the equation and solve for the hourly rate.