SOLUTION: A salesman receives a basic monthly salary of ₦23,200. He also gets ½% commission on sales. Out of his total income he pays 1% as union fees and 3% as income tax. What was his n
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-> SOLUTION: A salesman receives a basic monthly salary of ₦23,200. He also gets ½% commission on sales. Out of his total income he pays 1% as union fees and 3% as income tax. What was his n
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Question 1205370: A salesman receives a basic monthly salary of ₦23,200. He also gets ½% commission on sales. Out of his total income he pays 1% as union fees and 3% as income tax. What was his net income for a month in which his sales were ₦2,595,000. Answer by Theo(13342) (Show Source):
You can put this solution on YOUR website! sales = 2595000
salary = 23200
commission = .005 * sales = 12975
gross income = salary plus commission = 23200 + 12975 = 36175
union fees = .01 * gross income = 361.75
income tax = .03 * gross income = 1085.25
net income = gross income minus union fees minus income tax = 36175 - 361.75 - 1085.25 = 34728.
that's his net income for the month.
