Tag: deductions from earnings

Questions Related to deductions from earnings

Read the following information carefully to answer the question given below
The sum of the incomes of A and B is more than that of C and D taken together The sum of the incomes of A and C is the same as that of B and D taken together Moreover A earns half as much as the sum of the incomes of B and D If A's income be Rs.80,000 per annum and the difference between the incomes of B and D be the same as A's income B's income is __________

maths discount and commission commission and rebate commission deductions from earnings

  1. Rs. 40,000

  2. Rs. 60,000

  3. Rs. 80,000

  4. Rs. 1,20,000

Show answer
Correct Option: D
Explanation:

$incomes\quad of\quad A\quad +\quad B\quad >\quad C\quad +\quad D$
$incomes\quad of\quad A\quad +\quad C\quad =\quad B\quad +\quad D$
$incomes\quad of\quad A\quad =1/2*(\quad B\quad +\quad D)=Rs. 80,000$
So, $incomes\quad of\quad B\quad +\quad D=80000*2=160000$  ----eq1
$incomes\quad of\quad B\quad -\quad D=Rs. 80,000$  -------eq2
from eq1 and eq2 
$2*incomes\quad of\quad B=240000$
$incomes\quad of\quad B=120000$
 Answer (D) 1,20,000


Choose the correct option

maths discount and commission commission and rebate commission deductions from earnings

  1. A commission is amount of money that salesperson spend

  2. A commission is amount of money that a salesperson earns by making a sale

  3. Commission $=\cfrac { \text{Rate of commission} }{\text{ Amount of sales }} $

  4. None

Show answer
Correct Option: B
Explanation:

Commission is the amount of money that an individual receives based on the level of sales he or she has obtained. 

The sales person is provided a certain amount of money in addition to his/her standard salary based on the amount of sales obtained and that is called a commission.
So, a commission is an amount of money that a salesperson earns by making a scale.
Hence, option B is correct.

The earnings on $Rs.600$ of sales at $10$% commission?

maths discount and commission commission and rebate commission deductions from earnings

  1. $Rs.600$

  2. $Rs.6$

  3. $Rs.60$

  4. None

Show answer
Correct Option: C
Explanation:

Commission $=600\times \cfrac{10}{100}=Rs.60$

Amit makes $Rs.30000$ in month which includes salary and commission. The commission rate is $10$%. Calculate the salary without commission. Amount of sales $20000$

maths discount and commission commission and rebate commission deductions from earnings

  1. $Rs.2800$

  2. $Rs.28000$

  3. $Rs.30000$

  4. None

Show answer
Correct Option: B
Explanation:

Total earning $=Rs.30000=$ Salary + Commission
Salary =30000- commission
commission $=$ Rate $\times$ Amount of sales
$=10$% $\times 20000=10\times 200$
$=Rs.2000$
Salary $=30000-2000=Rs.28000$

Types of commission are:

maths discount and commission commission and rebate commission deductions from earnings

  1. Straight commission

  2. Salary plus commission

  3. Graduated commission

  4. All of above

Show answer
Correct Option: D
Explanation:

Types of commission are :

1. Straight Commission
2. Salary Plus Commission
3. Graduated Commission

Mohit's monthly salary was  5445q. He saved 30% of it and gave $\dfrac{1}{2}$ of the remainder to his parents. If Mohit used $\dfrac{3}{4}$ of the amount of money, he had left to buy a guitar, then how much money would he have left, if q = 8?

maths discount and commission commission and rebate commission deductions from earnings

  1. 1100.50

  2. 11434.50

  3. 11079.50

  4. 3811.50

Show answer
Correct Option: D
Explanation:

Total salary $=5445q$

$\underbrace {(0.3\times 5445q)} _{saving}+\underbrace {\cfrac {0.6}{2}\times 5445q} _{Gives\quad of\quad parents}$
For guitar, $(0.25\times 5445q)\times (0.4)$
So, money left to him is $3811.60$

Person who takes the money for his use is known as.

maths discount and commission commission and rebate commission deductions from earnings

  1. Money lender

  2. Borrower

  3. Payer

  4. Drawee

Show answer
Correct Option: B
Explanation:

Person who takes the money for his use is known as Borrower.