Question

Nadia is a stockbroker. She earns 4% commission when she sells stocks. Last week, she earned $288 in commission.

a. What was the total amount of her sales?

b. If she earns $14,000 in commission during the year, what was the total value of stocks that Nadia sold?

Answer 1

a)The total amount of her weekly stock sales = $7,200

b) The total amount of her yearly stock sales = $350,000

Explanation:

(a) Let us assume that the total a mount of her sales in a week = $m

Commission earned in a week = $288

Now, 4 % of her total sales = $288

or, 4% of ($m) = $288

⇒
`(4)/(100)  *  m = 288`

or,
`m = (288 * 100)/(4)   = 7,200`

⇒ m = $7,200

Hence, the total amount of her weekly stock sales = $7,200

b) Let us assume that the total amount of her sales in a year = $k

The total amount of commission earned = $14,000

Now, 4 % of her total sales = $14,000

or, 4% of ($k) = $14,000

⇒
`(4)/(100)  *  k = 14,000`

or,
`k = (14,000 * 100)/(4)   = 350,000`

⇒ k = $350,000

Hence, the total amount of her yearly stock sales = $350,000