An agent contracted by Peter sold a piece of land for Ksh 500,000.The agent was paid commission on the sales made as follows:

Question

An agent contracted by Peter sold a piece of land for Ksh 500,000.The agent was paid commission on the sales made as follows:

-10% on the first Ksh 200,000

-5% on the next Ksh 150,000

-1% on the balance of sales

Determine the:

Amount received by Peter for the piece of land (3 marks)

Answer 1

An agent contracted by Peter sold a piece of land for Ksh 500,000.The agent was paid commission on the sales made as follows:

0.10 * 200,000 + 0.05 * 150,000 + 0.01 * 150,000 = _____