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A Salesperson Is Paid a Weekly Salary of $350

question 56

Essay

A salesperson is paid a weekly salary of $350.00 or a commission of 14.5% of his sales, whichever is the greater. What is his earnings for a week in which his sales were
a) $2480.00?
b) $3780.00?

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Definitions:

Consumer Price Index

A metric assessing the weighted average cost of a selection of consumer items and services like food, transportation, and medical services, utilized to determine the inflation level.

Inflation Rate

measures the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Consumer Price Index

An indicator that assesses the typical shift through time in the expenses urban purchasers face for a predetermined array of consumer items and services.

Inflation Rate

The percentage increase in the general level of prices for goods and services over a period.

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