Calculating Income based on Salary and Commission
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Isaac earns a base salary of $1250 per month and a graduated commission of 0.4% on the first $100,000 of sales, and 0.5% on sales over $100,000. Last month, Isaac's gross salary was $2025. What were his sales for the month?
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Solution Summary
This solution provides a detailed step by step explanation of the given mathematics problem involving the calculation of income based on a given set of variables.
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Begin by looking at this problem one piece at a time. His gross salary was $2025. $1250 of that was from the base salary. Subtract the two to see how much of his gross salary was from commission. $2025 - %1250 = $775. This means that he earned $775 from commission. For the first $100,000 of sales, he earns 0.4%. "Percent" means out of 100. Whenever you use percentages in equations, you always need to convert them into decimals first, so 0.4% means 0.4 / 100 = 0.004. To find 0.4% of $100,000, you will multiply 0.004 * $100,000 = $400. Subtract $400 from $775 to ...
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