How did I approach this problem ?
You are offered two different sales jobs. The first company offers a straight commission of 3% of the sales. The second company offers a salary of $ 420 per week plus 2% of the sales. How much would you have to sell in a week in order for the straight commission offer to be at least as good
Looks like we need an equality equation.
0.03x = 0.02x + 420
0.01x = 420
x = 42,000
Therefore, you must sell at least $42,000 in a week in order for the straight commission offer to be at least as good as the second company's offer.
Thank You.. However I entered this in my online homework and the computer said it was incorrect. It said that I should be entering a LIST of numbers but I am not sure what they mean by that
The problem doesn't say anything about a list of numbers. I think herp-derp is correct. Please ask your teacher about this problem.
To approach this problem, you need to compare the two job offers and find out how much you would need to sell in a week for the straight commission offer to be at least as good as the salary plus commission offer.
Let's break it down step by step:
1. Determine the conditions for the straight commission offer to be at least as good:
In this case, the straight commission offer should provide you with the same or higher earnings compared to the salary plus commission offer.
2. Calculate the earnings from the straight commission offer:
Multiply the sales amount by the commission rate of 3% to find how much you would earn solely from commission.
3. Calculate the earnings from the salary plus commission offer:
Add the $420 weekly salary to the commission earned from the sales. Multiply the sales amount by the commission rate of 2% to find the commission earnings.
4. Equate the earnings from both offers and solve for the sales amount:
Set the earnings from the straight commission offer equal to the earnings from the salary plus commission offer, and solve for the sales amount. This will help you find the minimum sales amount needed for the straight commission offer to be as good as the salary plus commission offer.
By following these steps, you can determine the amount you need to sell in a week for the straight commission offer to be at least as good.