Question 1

Nitin is paid on a graduated commission scale. He receives commission at the rate of 2.5% for the first $5,000 of sales in a week, 4% on the next $10,000, and 4.5% on all further sales. What is Nitin's average rate of commission in a week in which his sales are $30,000?
A) 3.67%
B) 4%
C) 3.33%
D) 3.75%
E) 4.25%

Accepted Answer

The answer of Nitin is paid on a graduated commission...

Question 2

What is his hourly pay rate?
A) $44.44
B) $43.89
C) $47.71
D) $44.04
E) $38.76

Accepted Answer

The answer of What is his hourly pay rate?
A) $44.44
B)...

Question 3

Jason's gross pay for August was $3,296.97 on sales totalling $151,342. If his base salary is $1,500 per month, what is his rate of commission on sales exceeding his monthly quota of $100,000?

Accepted Answer

The answer of Jason's gross pay for August was $3,296.97...

Question 4

Fred has an annual salary of $40,000.00. He is paid semi-monthly and his regular workweek is 40 hours. What is his regular salary per pay period?
A) $1,538.46
B) $1,458.33
C) $3,076.92
D) $1,666.67
E) $3,333.33

Accepted Answer

The answer of Fred has an annual salary of $40,000.00....

Question 5

Nitin is paid on a graduated commission scale. He receives commission at the rate of 2% for the first $10,000 of sales in a month, 3% on the next $20,000, and 4.5% on all further sales. What is Nitin's average rate of commission in a month in which his sales are $60,000?
A) 3.167%
B) 3.417%
C) 3.583%
D) $5
E) 3.83%

Accepted Answer

To find Nitin's average rate of commission, we need to find the total commission he earns and divide it by his total sales.
For the first $10,000 of sales, Nitin earns commission at a rate of 2%, which is $200.
For the next $20,000 of sales (i.e. sales from $10,001 to $30,000), Nitin earns commission at a rate of 3%, which is $600.
For the remaining $30,000 of sales, Nitin earns commission at a rate of 4.5%, which is $1,350.
Therefore, his total commission earned is $200 + $600 + $1,350 = $2,150.
His total sales are $60,000.
His average rate of commission is (total commission earned/total sales)*100% = (2,150/60,000)*100% = 3.583%. 
Therefore, the best choice is (C).

Question 6

Nitin is paid on a graduated commission scale. His base salary is $1,500 per month and he receives commission at the rate of 2% for the first $10,000 of sales in a month, 3% on the next $20,000, and 4.5% on all further sales. How much will Nitin earn in a month in which his sales are $60,000?
A) $2,150
B) $2,250
C) $3,750
D) $3,650
E) $2,500

Accepted Answer

Nitin's earnings can be calculated as follows: Base salary = $1,500. For the first $10,000 of sales, commission = 2% of $10,000 = $200. For the next $20,000 of sales, commission = 3% of $20,000 = $600. For the remaining $30,000 of sales (since $60,000 - $10,000 - $20,000 = $30,000), commission = 4.5% of $30,000 = $1,350. Total earnings = $1,500 (base salary) + $200 + $600 + $1,350 = $3,650.

Question 7

Nitin is paid a base salary of $200 per week and commission at the rate of 3% for sales over $5,000, 4% if his sales are over $8,000, and 5% if sales are over $15,000. How much will Nitin earn in a week in which his sales are $20,000?
A) $1,200
B) $1,000
C) $800
D) $600
E) $200

Accepted Answer

Nitin earns a base salary of $200. For sales of $20,000, he gets 5% commission (since $20,000 is over $15,000), which is $20,000 * 5% = $1,000. So, his total earnings are $200 (base salary) + $1,000 (commission) = $1,200.

Question 8

Nitin is paid a base salary of $300 per week and commission at the rate of 2.5% for sales over $5,000, 4% if his sales are over $10,000, and 4.5% if sales are over $25,000. How much will Nitin earn in a week in which his sales are $20,000?
A) $800
B) $1,100
C) $900
D) $1,200
E) $1,125

Accepted Answer

The answer of Nitin is paid a base salary of...

Question 9

What is his gross salary per pay period?
A) $1,908.33
B) $1,815.93
C) $1,616.18
D) $1,755.51
E) $1,761.54

Accepted Answer

To determine the gross salary per pay period, we would need specific information about the individual's annual salary, the number of pay periods per year, and any other relevant details such as bonuses or deductions that are included in the gross salary calculation. Without this information, it's not possible to accurately calculate the gross salary per pay period. The choice provided as correct (E) cannot be validated without the context or calculations leading to that figure.

Question 10

Sandy is a commissioned car sales consultant, and receives weekly pay of $300 plus $250 commission for each vehicle sold. If Sandy, earned $4,450 last month, determine the number of vehicles sold.
A) 10
B) 11
C) 12
D) 13
E) 14

Accepted Answer

The answer of Sandy is a commissioned car sales consultant,...

Question 11

Hillary sells cosmetics from her part-time home-based business. She receives a straight commission of 21% from her supplier. At the year-end, she also receives a 7% bonus on sales exceeding her annual quota of $50,000. What will her gross annual earnings be for a year in which her average monthly sales are $5,500?

Accepted Answer

The answer of Hillary sells cosmetics from her part-time home-based...

Question 12

Nancy is a realtor and earns income based on a graduated commission scale. Nancy is paid $3, 000 plus 2.5% on the first $140,000; 1.5% on the next $300,000 and .5% on the remaining value over $440,000. Determine Nancy's commission earned after selling a $625,000 house.
A) $5,500
B) $6,400
C) $9,750
D) $10,860
E) $11,925

Accepted Answer

The answer of Nancy is a realtor and earns income...

Question 13

A sales representative is paid the greater of $1,275 per week or 9% of sales. At what volume of sales will she start to earn more from the commission-based compensation?
A) $14,166.67
B) $1,389.75
C) $2,295
D) $2,422.50
E) $12,750

Accepted Answer

To find the volume of sales at which the sales representative starts to earn more from commission than the fixed $1,275, set up the equation 0.09 * sales = $1,275. Solving for sales gives sales = $1,275 / 0.09 = $14,166.67.

Question 14

Stuart's regular rate of pay is $22 per hour. He is given 1.5 times the rate of pay for days he works over 37.5 hours. Determine the amount earned during a week where he worked 42 hours.
A) $770
B) $973.5
C) $1,065
D) $1,110
E) $1,200

Accepted Answer

Stuart earns $22 per hour for the first 37.5 hours, totaling $825 (22 * 37.5). For the additional 4.5 hours (42 - 37.5), he earns 1.5 times his regular rate, which is $33 per hour (22 * 1.5), totaling $148.5 (33 * 4.5). Adding both amounts gives $973.5 ($825 + $148.5).

Question 15

Your regular workweek is 7.5 hours per day for five days. If you do not work on seven public holidays and you receive two weeks' vacation, what percentage of the total hours in a year are you actually at work? Assume that a year has exactly 52 weeks.

Accepted Answer

The answer of Your regular workweek is 7.5 hours per...

Question 16

A sales representative is paid the greater of $950 or 8% of sales. At what volume of sales will he start to earn more from the commission-based compensation?
A) $9,500
B) $1,026
C) $1,875
D) $1,187.50
E) $11,875

Accepted Answer

To earn more than $950 through commission, the sales representative needs to make sales where 8% of the sales volume exceeds $950. Setting up the equation 0.08 * sales = $950, solving for sales gives sales = $950 / 0.08 = $11,875. Therefore, at sales volume of $11,875, the representative starts to earn more from commission-based compensation.

Question 17

Nitin earns $48,000 per year for a forty-hour workweek. Determine his hourly rate of pay if he is paid biweekly. Assume there are 52 weeks in the year.
A) $250.00
B) $24.04
C) $46.50
D) $50.00
E) $23.08

Accepted Answer

Nitin's annual salary is $48,000. To find the hourly rate, divide the annual salary by the number of weeks in a year (52) and then by the number of hours worked per week (40). $48,000 / 52 weeks = $923.08 per week. $923.08 / 40 hours = $23.08 per hour.

Question 18

Trevor earns a base monthly salary of $2,000 plus a commission of 3% on sales exceeding his monthly quota of $25,000. He receives a further 3% bonus on sales in excess of $50,000. What must his sales be in order to gross $4,000 per month?

Accepted Answer

The answer of Trevor earns a base monthly salary of...

Question 19

What is his total remuneration for a two-week period in which he worked 4.5 hours overtime at time-and-a-half?
A) $2,058.81
B) $2,230.36
C) $1,858.23
D) $1,953.02
E) $2,051.75

Accepted Answer

The total remuneration includes his regular pay plus overtime pay. Assuming a standard 40-hour workweek, his regular pay is calculated for 80 hours over two weeks. Overtime pay is 1.5 times his regular hourly rate for the 4.5 hours of overtime. The correct total must account for both these components accurately.

Question 20

Nitin is paid on a graduated commission scale. His base salary is $250 per week and he receives commission at the rate of 2.5% for the first $5,000 of sales in a week, 4% on the next $10,000, and 4.5% on all further sales. How much will Nitin earn in a week in which his sales are $30,000?
A) $1,200
B) $1,350
C) $1,450
D) $1,600
E) $1,000

Accepted Answer

The answer of Nitin is paid on a graduated commission...

Quiz 1: Review and Applications of Basic Mathematics

Nitin is paid on a graduated commission scale. He receives commission at the rate of 2.5% for the first $5,000 of sales in a week, 4% on the next $10,000, and 4.5% on all further sales. What is Nitin's average rate of commission in a week in which his sales are $30,000?

What is his hourly pay rate?

Jason's gross pay for August was $3,296.97 on sales totalling $151,342. If his base salary is $1,500 per month, what is his rate of commission on sales exceeding his monthly quota of $100,000?

Fred has an annual salary of $40,000.00. He is paid semi-monthly and his regular workweek is 40 hours. What is his regular salary per pay period?

Nitin is paid on a graduated commission scale. He receives commission at the rate of 2% for the first $10,000 of sales in a month, 3% on the next $20,000, and 4.5% on all further sales. What is Nitin's average rate of commission in a month in which his sales are $60,000?

Nitin is paid on a graduated commission scale. His base salary is $1,500 per month and he receives commission at the rate of 2% for the first $10,000 of sales in a month, 3% on the next $20,000, and 4.5% on all further sales. How much will Nitin earn in a month in which his sales are $60,000?

Nitin is paid a base salary of $200 per week and commission at the rate of 3% for sales over $5,000, 4% if his sales are over $8,000, and 5% if sales are over $15,000. How much will Nitin earn in a week in which his sales are $20,000?

Nitin is paid a base salary of $300 per week and commission at the rate of 2.5% for sales over $5,000, 4% if his sales are over $10,000, and 4.5% if sales are over $25,000. How much will Nitin earn in a week in which his sales are $20,000?

What is his gross salary per pay period?

Sandy is a commissioned car sales consultant, and receives weekly pay of $300 plus $250 commission for each vehicle sold. If Sandy, earned $4,450 last month, determine the number of vehicles sold.

Nancy is a realtor and earns income based on a graduated commission scale. Nancy is paid $3, 000 plus 2.5% on the first $140,000; 1.5% on the next $300,000 and .5% on the remaining value over $440,000. Determine Nancy's commission earned after selling a $625,000 house.

A sales representative is paid the greater of $1,275 per week or 9% of sales. At what volume of sales will she start to earn more from the commission-based compensation?

Stuart's regular rate of pay is $22 per hour. He is given 1.5 times the rate of pay for days he works over 37.5 hours. Determine the amount earned during a week where he worked 42 hours.

Your regular workweek is 7.5 hours per day for five days. If you do not work on seven public holidays and you receive two weeks' vacation, what percentage of the total hours in a year are you actually at work? Assume that a year has exactly 52 weeks.

A sales representative is paid the greater of $950 or 8% of sales. At what volume of sales will he start to earn more from the commission-based compensation?

Nitin earns $48,000 per year for a forty-hour workweek. Determine his hourly rate of pay if he is paid biweekly. Assume there are 52 weeks in the year.

Trevor earns a base monthly salary of $2,000 plus a commission of 3% on sales exceeding his monthly quota of $25,000. He receives a further 3% bonus on sales in excess of $50,000. What must his sales be in order to gross $4,000 per month?

What is his total remuneration for a two-week period in which he worked 4.5 hours overtime at time-and-a-half?

Nitin is paid on a graduated commission scale. His base salary is $250 per week and he receives commission at the rate of 2.5% for the first $5,000 of sales in a week, 4% on the next $10,000, and 4.5% on all further sales. How much will Nitin earn in a week in which his sales are $30,000?