A salesman receives a basic salary of#750,000 a year with a commission of 6% of the value of goods sold and a car allowance of #45 per km.
(a) Find the total amount he received in a year in which he sells goods worth #9,373,000 and travels 10,000 km.
(b) The next year he travels 12,000 km and receives a total of #2,010,000. Calculate the percentage increase in the value of goods sold.
a. Basic salary = #750,000
6% of the value of goods sold
= 6/100× ₦9,375000 = 562,500
#45 per Km
= 45×10,000= #450,000
Total amount he receives in a year = #750,000 + #562,500 + #450,000
= #1, 762,500.
. Total amount received in the next year. = #2, 010,000
Travels 12,000Km.
= 12,000 × 45 = ₦540,000
Basic salary. = #750,000
#2,010,000 - #540,000 - #750,000 = #720,000
Value of goods sold. = #720,000
Percentage increase in the value of goods sold.
(#720,000-#562,500) / ₦562,500 × 100
#157,500 / #562,500 × 100
= 28%.
Covenant Ayo Akinlotan.
a. Basic salary = ₦750,000
6% of the value of goods sold
= 6/100× ₦9,375000 = 562,500
₦45 per Km
= 45×10,000= ₦450,000
Total amount he receives in a year = ₦750,000 + ₦562,500 + ₦450,000
= ₦1, 762,500.
Legit Signs and Symbols.
Covenant Akinlotan.
a. Basic salary = ₦750,000
6% of the value of goods sold
= 6/100× ₦9,375000 = 562,500
₦45 per Km
= 45×10,000= ₦450,000
Total amount he receives in a year = ₦750,000 + ₦562,500 + ₦450,000
= ₦1, 762,500.
b. Total amount received in the next year. = ₦2, 010,000
Travels 12,000Km.
= 12,000 × 45 = ₦540,000
Basic salary. = ₦750,000
₦2,010,000 - ₦540,000 - ₦750,000 = ₦720,000
Value of goods sold. = ₦720,000
Percentage increase in the value of goods sold.
(₦720,000-₦562,500) / ₦562500 × 100
₦157500 / ₦562500 × 100
= 28%
Full and Accurate Solutions.
Legit Signs And Symbols.
Covenant Akinlotan.
Solution
To find the total amount received by the salesman in a year, we need to calculate the commission on the goods sold and the car allowance.
(a) To calculate the commission on goods sold:
Commission = (Commission rate %) * (Value of goods sold)
The commission rate is 6%, and the value of goods sold is #9,373,000. Therefore:
Commission = 0.06 * #9,373,000
Next, let's calculate the car allowance:
Car allowance = (Rate per km) * (Number of km traveled)
The rate per km is #45, and the salesman traveled 10,000 km. Therefore:
Car allowance = #45 * 10,000
Now, let's find the total amount received by adding the basic salary, commission, and car allowance:
Total amount = Basic salary + Commission + Car allowance
Plugging in the given values:
Total amount = #750,000 + Commission + Car allowance
(b) To calculate the percentage increase in the value of goods sold, we need to compare the value of goods sold in two different years.
Let's first calculate the commission in the second year using the given information:
Commission = 0.06 * Value of goods sold
The total amount received in the second year is given as #2,010,000.
Now, we can calculate the value of goods sold in the second year:
Value of goods sold = Total amount - Commission
To find the percentage increase, we need to calculate the percentage difference between the values of goods sold in the two years and express it as a percentage.
Percentage increase = ((Value of goods sold in the second year - Value of goods sold in the first year) / Value of goods sold in the first year) * 100
Plug in the given values to calculate the percentage increase.
f(s,m) = 750000 + .06s + 0.45m
So now just find
f(9373000,10000)
then find s when
f(s,12000) = 201000
then the % increase will be (s-9373000)/9373000 * 100%