To find the rate of commission.

Remember that the commission is always some per cent of the sum of money used in the transaction (usually the price of what is bought or sold).

Example: An agent sold $4000 worth of goods and received a commission of $200. What was the rate of his commission?

2. Purchase price $500, commission $10.
3. Purchase price $1500, commission $300.
4. Sale price $10,000, commission $500.

5. Sale price $20,000, commission $2000.

6. For selling $20 worth of tickets for the school entertainment, Alfred received $2 commission. What per cent commission did he receive?

7. George sold magazines on a commission. He received $5 for selling $50 worth of magazines. What per cent commission did he receive?

8. His brother received $5 from another firm for selling $20 worth of magazines. What was the rate of his commission?

9. An agent received $120 for collecting $6000 in rents. What was the rate of his commission?

10. For collecting a debt of $2000 a lawyer charged a fee of $400. What per cent did he charge?

11. A real estate agent received $1000 for selling property for $100,000. Find the rate of his commission.

12. A commission of $20 was paid a salesman for selling $400 worth of goods. Find the rate of his commission.

[With pencil]

1. An agent's commission for selling $950 worth of cloth was $47.50. Find the rate of his commission.

2. A salesman's commission for selling $92.40 worth of brushes was $4.62. What was the rate of his commission? 3. For selling property for $12,000, a real estate agent received a commission of $180. What was the rate of his com

mission?

4. Louis received $1.50 for selling 50 copies of magazines at $.15 each. What per cent commission was that?

5. A lawyer was directed to collect an account of $800. He collected 75% of the account and charged a fee of $90. Find the rate of commission.

6. An agent received $48 out of the $320 paid by one of his clients to the insurance company by whom he is employed. What per cent of commission did he receive?

7. An auctioneer selling on a commission basis received $1050 for selling property for $21,000. Find the rate of his commission.

8. A commission merchant remitted $270 to his principal, after deducting his commission of $30. Find the rate of his commission.

9. If the gross proceeds are $450 and the net proceeds are $432, what is the rate of commission?

10. Find the rate of commission when the net proceeds are $425 and the commission is $25.

11. What per cent of commission is charged by an agent who retains $60 and remits $940 to his employer?

12. What per cent is charged by a commission house for selling a quantity of oranges for $360 if $320 is remitted to the principal?

To find the value of goods bought or sold (gross receipts) when the commission and the rate are given.

Example: A salesman receives 5% commission for selling goods. Find the amount of his sales if his commission is $6000.

Be careful to note what is given and what is required.

Check all work to insure accuracy.

7. For selling an automobile on a commission of 10%, an

agent received a commission of $80. For how much did he sell the automobile?

8. A lawyer charged a commission of 20% for collecting a certain debt. If his fee was $100, what amount did he collect?

9. A real estate agent received a commission of $75 for collecting rents on a commission of 5%. Find the amount of rent collected.

10. If Edgar earned $5 by selling magazines on a commission of 20%, what was the value of the magazines sold?

[With pencil]

1. A commission merchant charged 24% commission for selling flour. If his commission on one sale was $500, what was the value of the flour sold?

2. A real estate agent charged 24% for buying and selling property. If his fee for selling a piece of land was $300, for how much did he sell the land?

3. A hat salesman earned $1500 commission by selling on a commission of 7%. What was the amount of his sales?

4. A buyer's commission in one transaction was $56.70. If he bought goods on a commission of 3%, what was the cost of the goods bought?

5. A collector whose rate of commission is 24% received $60 for collecting rents in one building. How much rent did he collect?

All governments require money to pay their expenses. Thus, our national government requires large sums of money to support the army and the navy, to pay the salaries of employees, pensions, etc. The state and city governments require money to pay for roads, bridges, schools, police, etc. The money required for all these expenses is raised for the most part by taxes, fees, licenses, and fines.

A tax is a sum of money levied (placed) on persons and property to cover the expenses of the government.

There are two kinds of taxable property - personal and real. Property which is fixed, which cannot be moved, such as land, buildings thereon, etc., is called real property or real estate. Property which is movable, such as money, merchandise, etc., is called personal property.