If a salesman is paid a $2,100 commission on the sale of a $35,000 sailboat, what is his commission rate?
six percent
To determine the commission rate, you need to divide the commission amount by the sale amount and then multiply the result by 100 to express it as a percentage.
In this case, the salesman's commission is $2,100, and the sale amount is $35,000.
Commission Rate = (Commission Amount / Sale Amount) * 100
Commission Rate = ($2,100 / $35,000) * 100
Calculating this:
Commission Rate = 0.06 * 100
Commission Rate = 6%
So, the salesman's commission rate is 6%.