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BusinessMath Answer Key

This document contains examples and problems about calculating commissions and earnings from sales. It discusses calculating simple and compound interest on investments. It provides examples of how to calculate an employee's basic salary, commissions from sales, bonuses or overrides, and total gross earnings based on their salary structure and sales amounts. The document contains a summative test with multiple choice and calculation questions to assess understanding of earnings, commissions, interest, and using formulas to determine total pay and investment growth.

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Charlene Dana
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2K views4 pages

BusinessMath Answer Key

This document contains examples and problems about calculating commissions and earnings from sales. It discusses calculating simple and compound interest on investments. It provides examples of how to calculate an employee's basic salary, commissions from sales, bonuses or overrides, and total gross earnings based on their salary structure and sales amounts. The document contains a summative test with multiple choice and calculation questions to assess understanding of earnings, commissions, interest, and using formulas to determine total pay and investment growth.

Uploaded by

Charlene Dana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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BUSINESS MATHEMATICS

Activity Sheet 2.1

ACTIVITY 1

1. Ronda invested P30,000 in an account that earns an interest rate of 5% per year. How

much will she earn in a year?

She will earn a total of ₱ 31,500.00 in a year

30 000 X 0.05=1 500.00

30 000+1 500=31 500

3. Annaliza wants to put her savings in a trust fund that offers a simple interest rate of 2% per year. If she

decides to invest P500,000 for 3 years, how much interest will she earn?

I =( 500,000 ) ( 0.02 )( 3 )

I =30,000

5. A millionaire invested his money in two banks. He invested P 30,000,000 in Bank A, which offers 6%

interest, compounded semi-annually. He also invested P40,000,000 in Bank B, which offers 7% interest,

compounded yearly Which of the two investment will have a greater yield in 3 years? Justify your answer.

Php1,563,858,480.00

Step 1: Initial Investment Php 30,000,000 Amount of money that you have available to invest initially.

Step 2: Contribute Monthly Contribution Php 40,000,000 Amount that you plan to add to the principal every

month, or a negative number for the amount that you plan to withdraw every month. Length of Time in Years

3 Length of time, in years, that you plan to save.

Step 3: Interest Rate Estimated Interest Rate 6 % Your estimated annual interest rate. Interest rate variance

range 7 % Range of interest rates (above and below the rate set above) that you desire to see results for.
Step 4: Compound It Compound Frequency

ACTIVITY 2 COMMISSION

1. Christopher has a monthly commission plan where he receives 2% commission on all his sales for the month.

If the sales exceeds 40,000, a bonus of 1% of everything over 40,000 is given to him. For sales more than

80,000, an additional 1% of everything over 80,000 is received. How much is his total commission during a

month when he had total sales of 96,500?

40 000 X 0.02=800

40 000 X 0.01=400

80 000−96 500=16 500

16 500 X 0.01=165

His commission is Php 165

Therefore, his total grosspay is Php 800 + Php 400 + Php 165 = Php 1,035

3. Maine makes a base monthly salary of Php 9,000 and gets 10% of everything she sells. If Maine got a total salary

of Php 12000 for the month, how much is the worth of items did she sell?

12 000−9000=3,000

3 000 X 0.10=300

The worth of items did she sell is Php 300.

Summative Test 2.1

1. B. Commissions
2. C. Rate

3. B. Commissions

4. D. basic pay + commission + override + allowance

5. Commission A. Php1 800.00

6. Gross Earnings C. Php10 300

Solution :

45 000 X 0.04= 1,800

1 800+8500=10,300

7. Sales exceeding his quota D. Php21 000.00

8. Commission A. Php630.00

9. Gross earnings C. Php18 630.00

Solution :

36 000−15 000=21 000

21 000 X 0.03=630

630+18 000=18 630

10. Sales subject to commission

11. 3% on sales …

12. total commission

13. gross earnings

14. his commission C. Php 3 750

15. his override B. Php5 000

16. gross earnings D. Php23 750

Solution:
His Commission

75 000 X 0.05=3 750

His Override

250 000 X 0.02=5 000

His gross earnings

3 750
+ 5 000
18750

18750
+ 15 000
23750

17. Jan’s basic salary A. Php 18 000

18. Jan’s commission C. Php 5 500

19. Jan’s override B. Php 3 805

20. Jan’s gross earning B. Php 32 305

Solution :

216 000 % 12 = 18 000

110 000 X 0.05=5 500

380 500 X 0.01=3 805

Jan’s gross earning is Php 18 000 + Php 5 500 + Php 3 805 + Php 5 000 = Php 32 305

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