A store bought a chalkboard at a cost of $90 and marked it up 150%. Zach, who works as a salesperson at the store, makes an 8% commission on all of his sales. Yesterday morning, Zach sold the chalkboard. How much commission did he make from this sale?
90 * 1.5 * 0.08 = ?
Is it 10.80?
Yes, $10.80
To calculate Zach's commission from this sale, we first need to determine the selling price of the chalkboard. The store marked up the chalkboard by 150%, which means they increased the cost by 150%.
The markup amount can be calculated by multiplying the cost by the markup percentage:
Markup = Cost x Markup Percentage
= $90 x 150%
= $90 x 1.50
= $135
Now we can calculate the selling price by adding the markup amount to the cost:
Selling Price = Cost + Markup
= $90 + $135
= $225
Next, we need to calculate Zach's commission. He earns an 8% commission on all of his sales. To find the commission amount, we multiply the selling price by the commission rate:
Commission = Selling Price x Commission Rate
= $225 x 8%
= $225 x 0.08
= $18
Therefore, Zach made a commission of $18 from selling the chalkboard yesterday morning.