Math Problem Statement

Your son sells cars. He earns a salary of $874 per month, + a 1.18% commission on all his sales. Last month he sold $257,432 worth of cars. What was his total earnings last month? Round your answer to two decimal places.

Solution

Let's solve this step by step.

Given:

  • Base salary = $874
  • Commission rate = 1.18% (or 0.0118 in decimal form)
  • Total sales = $257,432

Calculation:

  1. Commission earned = 257,432×0.0118257,432 \times 0.0118 257,432×0.0118=3,038.70257,432 \times 0.0118 = 3,038.70

  2. Total earnings = Base salary + Commission 874+3,038.70=3,912.70874 + 3,038.70 = 3,912.70

Final Answer:

$3,912.70

Would you like further details on any step?

Related Questions:

  1. How would the earnings change if the commission rate was increased to 1.5%?
  2. What would be the total earnings if the sales were doubled?
  3. How much commission would he earn on a $500,000 sale?
  4. If his monthly expenses are $2,000, how much profit does he make?
  5. How much sales must he make to earn a total of $5,000 in a month?

Tip:

Always convert percentage rates into decimals before calculations to avoid errors.

Ask a new question for Free

By Image

Drop file here or Click Here to upload

Math Problem Analysis

Mathematical Concepts

Basic arithmetic
Percentage calculations

Formulas

Total earnings = Base salary + Commission
Commission = Total sales × Commission rate

Theorems

Percentage conversion and multiplication

Suitable Grade Level

Grades 6-8