What is a commission?
A commission is usually a percentage of the value of the goods sold. People such as real estate agents and salespersons are paid a commission. Advantages of this include higher sales increases the income which promotes hard work, and may receive a retainer (such as an hourly rate) plus the commission. However, disadvantages of commission include an unstable income as it varies each week and a negative high competition for customers between employees. This post will help you solve commission questions in Prelim Standard Math.Â
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How to find the commission
The videos below explain in detail what a commission is and further what a retainer is.
Part 1
Part 2
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How to calculate a commission for a real estate agent
The following video explains how to calculate a commission for a real estate agent.
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How to calculate a commission for when a person also receives a retainer
This video explains how to calculate a commission when a person also receives a retainer.
