6. joel earns a commission of 5% on the audio equipment he sells, and the store keeps the rest. he sells a…
6. joel earns a commission of 5% on the audio equipment he sells, and the store keeps the rest. he sells a $750 amplifier.\na. how much commission does joel earn from the sale?\nb. how much does the store keep?
Answer
Answer:
a. $37.5$ b. $712.5$
Explanation:
Step1: Calculate Joel's commission
Commission rate is $5%=\frac{5}{100} = 0.05$. The price of the amplifier is $P = 750$. Commission $C=0.05\times750$ $C = 37.5$
Step2: Calculate the store's amount
The store keeps the rest. Let the store's amount be $S$. We know that $S=P - C$ (or since the store keeps $100%-5% = 95%$ of the sale) Using $S=(1 - 0.05)\times750=0.95\times750$ $S=712.5$