Commission And Percents, Tax, Tip And Discounts

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| By BkayG
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BkayG
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Quizzes Created: 1 | Total Attempts: 484
Questions: 10 | Attempts: 485

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Tax Quizzes & Trivia

Questions and Answers
  • 1. 

    A real estate agent earned a commission of $6875 for selling a house.  If his rate is 2.5% find the selling price of the house. ___________________

    Explanation
    The selling price of the house can be found by dividing the commission earned by the agent by his commission rate. Since the commission earned is $6875 and the commission rate is 2.5%, we can calculate the selling price by dividing $6875 by 0.025 (which is the decimal form of 2.5%). The result is $275,000.

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  • 2. 

    John is selling sets of knives and makes 10% commission on all sales.  What would his commission be on the sale of a $3250 set of knives? ________________

    Explanation
    John's commission is calculated by multiplying the sale amount by the commission rate (10%). In this case, the sale amount is $3250. Therefore, John's commission would be $325.00.

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  • 3. 

    A salesperson made $890.50 selling $6850 worth of electronic equipment.  Find the commission rate. ____________________

    Explanation
    The commission rate can be found by dividing the amount of commission earned ($890.50) by the total sales ($6850) and then multiplying by 100 to convert it to a percentage. In this case, the calculation would be (890.50 / 6850) * 100 = 13.013%. Rounded to the nearest whole number, the commission rate is 13%.

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  • 4. 

    Another real estate agent sold a house for $315,000 last week.  Is her commission is 1.25% of the selling price of the home, find the amount of her commission. _________________________

    Explanation
    The commission amount can be calculated by multiplying the selling price of the house ($315,000) by the commission rate (1.25%). This gives us $3,937.50.

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  • 5. 

    Danielle sells beauty supplies and earns a base salary of $450 per week plus a 9% commission on sales.  During one particular week she sells $895 worth of beauty supplies.  How much commission did she make for that week?

    Explanation
    During the week, Danielle sells $895 worth of beauty supplies. She earns a 9% commission on sales, so her commission for that week would be 9% of $895. To calculate this, we can multiply $895 by 0.09. This gives us $80.55. Therefore, Danielle made a commission of $80.55 for that week.

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  • 6. 

    Roberta makes $9 an hour plus a 12.5% commission selling jewelry.  How much does she earn on an 8 hour shift in which she sells $380 worth of jewelry?

    Explanation
    Roberta earns $9 an hour plus a 12.5% commission on her sales. In an 8 hour shift, she makes $9 x 8 = $72 from her hourly wage. To calculate her commission, we need to find 12.5% of $380, which is (12.5/100) x $380 = $47.50. Therefore, her total earnings for the shift are $72 + $47.50 = $119.50.

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  • 7. 

    Kevin works as a salesperson at a store that specializes in custom made computers.  He earns a base pay of $325 a week and a commission on his sales.  If Kevin earned a total of $1125 last week, how much of it was commission?

    Explanation
    Kevin earned a total of $1125 last week, which includes his base pay of $325. To find out how much of it was commission, we subtract his base pay from the total amount earned: $1125 - $325 = $800. Therefore, $800 of Kevin's earnings last week was commission.

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  • 8. 

    Find the final price for the following:Cost of shoes:    $29.95Markup:               20%Tax:                      2%

  • 9. 

    Find the cost of the following:Cost of a shirt:          $14.95Markup:                     25%Discount:                   45%

  • 10. 

    You go out to eat and your meal costs $67.35.  You want to leave an 18% tip.  How much do you leave total?

    Explanation
    To calculate the total amount to leave as a tip, we need to find 18% of the meal cost. Multiply $67.35 by 0.18 to get $12.12, which is the tip amount. Adding the meal cost and the tip, the total amount to leave would be $67.35 + $12.12 = $79.47.

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  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jan 20, 2015
    Quiz Created by
    BkayG

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