Unit 8 Lesson 6:  Exercise 2

1) An estate agent received 2.5% on the sale of a house costing £515,000. How much did he make?

2) A retail outlet makes 5% on its hire purchase product. If at the end of one month the outlet gives out products on hire purchase worth £1,051,000, how much did the outlet make in that month?

3) Alfred is a marketing officer in charge of the sale of fuel products for the firm. As part of his contract, he is offered 5.7% on all his sales. If he is paid a salary of £2,500 and he makes sales of £51,700 on fuel products in one month, how much did he earn at the end of the month?

4) Lora makes 4.5% on every customer that takes a personal loan. If she is able to convince two customers who took personal loans of £69,500 and £10,000 respectively, how much would Lora make?

5) A floral shop sales girl is given 5% commission on every flower delivery she makes. At the end of the week, she makes seven deliveries worth £7,900. How much does she make that week?

6) Malia earns £150 a month plus an additional 2% commission on the sale of air conditioners. At the end of the month she sold air conditioners worth £23,500. How much does she earn in that month?

7) A real estate agent earns commission of 5% on the first $200,000, 3% on the next $200,000 and 1% on any remaining amount.

Calculate the commission earned on properties selling for:

a) $15,000  c) $1,000,000

b) $729,500            d) $375,000

8) An electronic salesman is given two options:

Option A = £1090 a week plus 2.1% commission on every £15,000 sale.

Option B = £200 a week plus 15% commission on every £15,000. Which option is better?

9) Daniel was given a choice of package when he joined a local hardware store.

Package A: $600 per week.

Package B: $375 per week plus 2% commission on the value of all his sales.

a) How much will Daniel earn for a week if his total sales are $7000 with:

i) package A ii) package B

b) If Daniel chooses package B instead of package A, how much does his sales need to amount to each week for his choice of package to be financially more lucrative?

10) Erica works as a real estate agent. She charges 5% on the first $1800 of the selling price and 2.5% on the remainder.

a) Calculate the commission she receives on each of the following sales:

(i) A two bedroom unit for $17,900.

(ii)A block of land for $67,000.

(iii) A new office complex for $2.1 million.

b) Erica earns $6,135 commission on the sale of one house. What was the selling price of the house?