Tag: deductions from earnings

Questions Related to deductions from earnings

Choose the correct option

maths discount and commission commission and rebate commission deductions from earnings

  1. Salary includes the commission

  2. Salary excludes the commission

  3. Total earnings=Salary +Commission

  4. (B) and (C) are correct

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Correct Option: D
Explanation:

Salary does not include the commission.
Commission is aside from fixed salary

$3\%$ commission on the sale of property to is Rs. $42,660$. What is the total value of the property?

maths discount and commission commission and rebate commission deductions from earnings

  1. Rs.$14,00,100$

  2. Rs.$14,00,000$

  3. Rs.$10,22,000$

  4. Rs.$14,22,000$

Show answer
Correct Option: D
Explanation:
$3\%$ commission$=Rs\ 42,660$
$\Rightarrow 3\%$ of total value of property$=Rs\ 42,660$
Let total value of property be $'x'$
$\Rightarrow \dfrac{3}{100}\times x=42660$
$\Rightarrow x=\dfrac{42660\times 100}{3}$
$\Rightarrow$ Total cost $=x=Rs\ 14,22,000$.

Mohan credits $15\%$ of his salary into his bank and spends $30\%$ of the remaining amount on household articles. If cash on hand is Rs$2,380$/-, what is his salary?

maths discount and commission commission and rebate commission deductions from earnings

  1. $Rs5,000$

  2. $Rs4,500$

  3. $Rs4,000$

  4. $Rs3,500$

Show answer
Correct Option: C
Explanation:

Let Mohan Salary be = $x$

After spending $15\%$ of Salary he has = $\dfrac{85}{100}x$
After spending $30\%$ of Remaining he has
= $\dfrac{70}{100}\times \dfrac{80}{100}\ x  i.e. \dfrac{70}{100} \times \dfrac{85}{100}x = 2380$

$ x = \dfrac{2380\times100\times100}{70\times85} = Rs \ 4000$

A salesperson's commision is k percent of the selling price of a car . Which of the following represent the commission , in dollars , on two cars that sold for $14,000 each ?

maths discount and commission commission and rebate commission deductions from earnings

  1. 280 k

  2. 7,000 k

  3. 28,000 k

  4. $\frac {14,000}{100+2k}$

  5. $\frac {28,000+k}{100}$

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Correct Option: A

The income of a person is Rs 3,00,000. in the first year and he receives an increase of Rs 10,000 to his income per year for the next 19 years. Find the total amount, he received in 20 years.

maths discount and commission commission and rebate commission deductions from earnings

  1. Rs 79,000 /-

  2. Rs 7,90,000 /-

  3. Rs 79,00,000 /-

  4. Rs 7900 /-

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Correct Option: A

If the incentive of $M$ are $Rs\ 3000$ his salary is ..................... a his total income

maths discount and commission commission and rebate commission deductions from earnings

  1. $\dfrac{1}{4}$

  2. $\dfrac{1}{2}$

  3. $\dfrac{2}{3}rd$

  4. $\dfrac{3}{4}rd$

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Correct Option: A

If the total income of $O$ is $Rs\ 6000$ and of $N$ is $Rs\ 7000$, find the difference in their salaries.

maths discount and commission commission and rebate commission deductions from earnings

  1. $Rs\ 1500$

  2. $Rs\ 1750$

  3. $Rs\ 2000$

  4. $Rs\ 2250$

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Correct Option: A

A tax payer is exempted of income tax for the first Rs. $100000$ of his annual income but for the rest of the income he has to pay a tax at the rate of $20\%$. If he paid Rs. $3160$ as income tax for a year his monthly income is

maths discount and commission commission and rebate commission deductions from earnings

  1. Rs. $11580$

  2. Rs. $103160$

  3. Rs  $13610$

  4. Rs. $9650$

Show answer
Correct Option: D
Explanation:

Let the annual income of the person be Rs. $x$ 

Then $20\%$ of $(x - 100000) = 3160$
$\displaystyle \Rightarrow x-100000=\frac{3160\times 100}{20}=15800$
$\displaystyle \Rightarrow x=115800$
$\displaystyle \therefore$ Monthly income $=$ Rs. $\dfrac{115800}{12}=$ Rs. $9650$

Prices register an increase of $10\%$ on food grains and $15\%$ on other items of expenditure. If the ratio of an employees expenditure on food grains and other items be $2 : 5$, by how much should his salary be increased in order that he may maintain the same level of consumption as before his present salary being Rs. $2590$

maths discount and commission commission and rebate commission deductions from earnings

  1. Rs. $ 323.75$

  2. Rs. $ 350$

  3. Rs. $ 360.50$

  4. Rs. $ 351.50$

Show answer
Correct Option: D
Explanation:

Given that the expenses on food : other items $=2 : 5$.

His salary $=$ Rs. $2590$.
$\therefore $ expenses on food $=$ Rs. $\dfrac { 2 }{ 5+2 } \times 2590=$ Rs. $740$ and 
the expenses on other items $=$ Rs. $(2590-740)=$ Rs. $1850$.
Now the rise in price for rice at $10\%=$ Rs. $740\times \dfrac { 10 }{ 100 } =$ Rs. $74$ and
the rise in price for other items at $15\%=$ Rs. $1850\times \dfrac { 15 }{ 100 } =$ Rs. $277.5.$ 
$\therefore $ the net rise in expenses $=$ Rs. $(74+277.5)=$ Rs. $351.5$.
$\therefore $ his salary should be increased by Rs. $351.5$ to cope with the present situation.

Mrs Sharma invests $15\%$ of her monthly salary that is Rs. $4428$ in Mutual funds. Later she invests $18\%$ of her monthly salary on Pension plans also she invests another $9\%$ of her salary on Insurance policies. What is the total monthly amount invested by Mrs Sharma?

maths discount and commission commission and rebate commission deductions from earnings

  1. Rs. $113356.80$

  2. Rs. $12398.40$

  3. Rs. $56678.40$

  4. None of these

Show answer
Correct Option: B
Explanation:

Let Mrs. Sharma's monthly salary be Rs.$x$ 

Then $15\%$ of $x =$ Rs. $4428$
$\displaystyle \Rightarrow x=$ Rs. $\dfrac{4428\times 100}{15}=$ Rs. $29520$
$\displaystyle \therefore$ Total monthly amount invested by Mrs. Sharma $= (15\% + 18\% + 9\%)$ of Rs. $29250$
$\displaystyle =42\%$ of Rs. $29250$
$=\dfrac{42}{100}\times 29250$
$=$ Rs. $12398.40$