Indian Institute of Foreign Trade 2015 Solved Paper

Question : 16 of 124

Marks: +1, -0

Saliesh is working as a sales executive with a reputed FMCG Company in Hyderabad As per the Company's policy, Sailesh gets a commission of 6% on all sales upto Rs. 1,00,000 and 5% on all sales in excess of this amount. If Sailesh remits Rs. 2,65,000 to the FMCG company after deducting his commission, his total sales were worth:

Rs. 1,20,000
Rs. 2,90,526
Rs. 2,21,054
Rs. 2,80,000

Validate

Solution:

(d) Let his total sales are of x and he earns ₹ 6,000 as commission for ₹ 1,00,000.
and, Remaining amount = x – 100000
Commission on this amount

= { 5 } /{ 100 } ( x - 100000 )

∴ Total Commission = 6000 + .05 (x –100000)
= 0.05x + 1000
∴ x – .05x – 1000 = 265000
Solving, x = 280000

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