Commission & Fees

Front

What is commission?

Back

Commission is a fee paid to an employee or agent for services rendered, typically calculated as a percentage of the sales made.

Front

How do you calculate commission?

Back

To calculate commission, multiply the total sales amount by the commission rate (as a decimal). For example, if the commission rate is 17% and sales are $37,000, the commission is $37,000 x 0.17 = $6,290.

Front

What is a percentage?

Back

A percentage is a way of expressing a number as a fraction of 100. It is often used to describe proportions or ratios.

Front

What is the formula to find the total amount after adding a percentage?

Back

Total Amount = Original Amount + (Original Amount x Percentage Rate). For example, if the original amount is $65 and the percentage rate is 17%, the total amount is $65 + ($65 x 0.17) = $76.05.

Front

If a bike rental company charges a 17% late fee on a $65 rental, what is the late fee?

Back

The late fee is $11.05, calculated as $65 x 0.17.

Front

What does it mean to earn a commission of 12%?

Back

Earning a commission of 12% means that for every sale made, 12% of the sale price is paid as commission.

Front

How much commission does Amelia earn on $22,540 in sales at a 12% commission rate?

Back

Amelia earns $2,704.80, calculated as $22,540 x 0.12.

Front

What is the total amount paid if a late fee of 17% is added to a $65 rental?

Back

The total amount paid is $76.05.

Front

If Corie earns a 3% commission on $850 in sales, how much does she earn?

Back

Corie earns $25.50, calculated as $850 x 0.03.

Front

What is the base for calculating percentages?

Back

Percentages are based out of 100.