Tag: commission,brokerage and discount

Questions Related to commission,brokerage and discount

Sumeet earns $5$% commission on total sales. What commission he would earn if he sold a Rs.$3000$ crockery?

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. Rs.$1500$

  2. Rs.$150$

  3. Rs.$200$

  4. Rs.$250$

Show answer
Correct Option: B
Explanation:

Commission=Rate of commission $\times$ Amount of sales
$\cfrac{5}{100}\times 3000$
=Rs.$150$

Sumeet has started making $Rs.60000$ a month plus some money by commission. He gets $9$% of everything he sells. If Sumeet sold $Rs.100000$ worth of items this month, calculate the salary

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. $Rs.69000$

  2. $Rs.31000$

  3. $Rs.160000$

  4. None

Show answer
Correct Option: A
Explanation:

Amount sold $=100000$, Rate$=9$%
Commission $=100000\times {9}{100}=9000$
Total salary $=60000+9000=69000$

Sumeet runs a music shop where he sold a guitar of worth $Rs.50000$, one pick $Rs.50$, one processor $Rs.7000$ and an amplifier worth $Rs.36000$ and commission he got was $12$%. What was Sumeet's commission on total sales?

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. $Rs.111660$

  2. $Rs.111.66$

  3. $Rs.11166$

  4. None

Show answer
Correct Option: C
Explanation:

Total sales $=Rs.50000+Rs.50+Rs.7000+Rs.36000$
$=Rs.93050$
Commission =Amount of sales $\times $ Rate
$=93050\times \cfrac{12}{100}$
$=11166$

Remo, who works in a high-end jewellery store, earns a base pay of $\$ 10.00$ per hour plus a certain percent commission on the sales that he helps to broker in the store. Remo worked an average of $35$ hours per week over the past two weeks and helped to broker sales of $\$ 5,000.00$ worth of jewellery during that same two week period. If Remo's earnings for the two-week period were $\$ 850.00$, what percent commission on sales does Remo earn? 

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. $1\%$

  2. $2\%$

  3. $3\%$

  4. $4\%$

Show answer
Correct Option: C
Explanation:

Given that Remo works in jewelry store he earns a base pay of $\$10$ per hours plus a certain percent commission on sale and Remo worked an average of $35$ hours in week.

Then Ramo total base pay for two weeks $=$ $35\times 2\times 10=700$ dollars.
But Remo earning for two weeks were $\$850$ including percent  commission of sale $\$5000$.
So, percent  commission of sale $\$5000=850-700=150$ dollar
Then percent on sale $=$ $\dfrac{150}{5000}\times 100=3$ $\%$

Amit used to earn $7$% commission on every piece of mobile he sells. Calculate amount of his commission if he sells a mobile phone for $Rs.90000$?

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. $Rs.630$

  2. $Rs.63000$

  3. $Rs.6300$

  4. None

Show answer
Correct Option: C
Explanation:

Commission=Rate $\times$ Amount of sales
$\cfrac{7}{100}\times 90000$
$=Rs.6300$

A salesman is appointed on a fixed monthly salary of Rs. $1,500$/- together with a commission at $5$% on the sales over Rs. $10,000$/- during a month. If his monthly income is Rs. $2,050$/-, find his sales during that month. 

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. Rs. $22,000$

  2. Rs. $20,000$

  3. Rs. $23,000$

  4. Rs. $21,000$

Show answer
Correct Option: D
Explanation:

$\Rightarrow$   Commission at $5\%$ on the sales over Rs. $10,000$ 

$\Rightarrow$ Monthly income - monthly salary.= Rs.$2050-$Rs.$1500=$Rs.$550.$
$\Rightarrow$  The sales over Rs.$10,000=550\times \dfrac{100}{5}=$Rs.$11000.$

$\Rightarrow$  Total sales during the month = Rs.$10,000+$Rs.$11,000=$Rs.$21,000$

If a commission $15$% given on the marked price of a book, the publisher gain $19$%. If the commission is not there, the gain of publisher is

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. $30$%

  2. $20$%

  3. $40$%

  4. $50$%

Show answer
Correct Option: C
Explanation:
Cost price=CP, Selling price=SP
Marked Price=MP
If $15$% commission on MP is given
$SP=MP-\cfrac { 15 }{ 100 } MP=\cfrac { 85 }{ 100 } MP\rightarrow 1$
Under this condition gain is $19$%
$SP=CP+\cfrac { 19 }{ 100 } CP=\cfrac { 119 }{ 100 } CP\rightarrow 2$
If there is no commission
$S{ P }^{ 1 }=MP$ (MP and CP will not change)
But from $1$ and $2$
$\cfrac { 85 }{ 100 } MP=\cfrac { 119 }{ 100 } CP$
$MP=\cfrac { 119 }{ 85 } CP$
$S{ P }^{ 1 }=MP=\cfrac { 119 }{ 100 } CP=\left( \cfrac { 85+34 }{ 85 }  \right) CP$
$S{ P }^{ 1 }=CP=\cfrac { 34 }{ 85 } CP=CP+\cfrac { 2 }{ 5 } CP$
$=CP+40$% of CP
$\therefore$ Gain for publisher is $40$%

A salesman is allowed $5\%$ commission on the total sales made by him plus a bonus of $1\%$ on the excess of his sale over Rs. $20,000$/-. If the total earnings are Rs. $1,450$/- on commission alone, find his total earnings?

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. Rs. $100$

  2. Rs. $90$

  3. Rs. $80$

  4. Rs. $110$

Show answer
Correct Option: B
Explanation:
Given that he makes $1450$ on commission alone.
$\Rightarrow 5$% of Total sales$=1450$
$\cfrac { 5 }{ 100 } \times $ Total$=1450$
Total$=29000$
Given that he earns $1$% on excess of sales of $20000$
Earnings$=1%$ of excess
$=\cfrac { 1 }{ 100 } \times \left( 29000-20000 \right) $
$=90$
$\therefore $He earns Rs.$90$

In a museum, the entrance ticket costs Rs. $250$. In Vacation , the cost of the ticket is reduced, there by increasing the sale by $50$%. but it was found that the collection is decreased by $17.5$ %. what is the deduction in the ticket price?

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. Rs. $100$

  2. Rs. $112.5$

  3. Rs. $1000$

  4. Rs. $1225$

Show answer
Correct Option: B
Explanation:
Let there is sell of $100\ tickets.$

So, total Collection $= 250 \times 100 = Rs.\ 25,000$ 

Now, 
Total ticket sale $= 100 + 50\%\ of\ 100 = 150$

This effected $17.5\%$ decrease in collection.

So, Collection after increased sale,
$= 25000 - 17.5\%\ of\ 25000 $

$= Rs.\ 20, 625$

In vacation time per ticket price,
$= \dfrac{20625}{150}$

$ = Rs. 137.5$

Decreased in each ticket price,
$= 250 - 137.5 = Rs.\ 112.5$

Hence, this is the answer.

If a commission of $10$% is given on MP of book , the publisher gains $20$% . If the commission is increase to $20$% , the gain % is?

business maths commission,brokerage and discount commission and rebate commission deductions from earnings

  1. $5$

  2. $6.66$

  3. $3.33$

  4. $8$

Show answer
Correct Option: B
Explanation:

$S.P=M.P-$commission$\times M.P$

$S.P=C.P+$ gain$\times C.P$
Let $C.P=Rs.100$
For gain $=20\%, S.P=Rs.120$
and commission$=10\%,MP=Rs.133.33$
For commission$=20\%$ and $M.P=Rs133.33$
$S.P=Rs.106.66$
$C.P=Rs.100$
$\implies $ gain$=\cfrac{S.P-C.P}{C.P}\times 100=6.66\%$