You are offered two different jobs. Company A offers an annual salary of $34,000
ID: 2839928 • Letter: Y
Question
You are offered two different jobs. Company A offers an annual salary of $34,000 plus a year-end bonus of 3.5% of your total sales. Company B offers a salary of $28,000 plus a year-end bonus of 7.5% of your total sales. What is the amount you must sell in one year to earn the same salary working for either company?
$170,000
$120,000
$150,000
$90,000
A total of $50,000 is invested in two funds paying 6.5% and 7.5% simple interest. The total yearly interest is $3600. How much is invested at the 6.5% rate?
$28,000
$12,000
$26,000
$15,000
Explanation / Answer
1)
Company A : 34000 + 0.035x
Company B : 28000 + 0.075x
34000 + 0.035x = 28000 + 0.075x
0.04x = 6000
x = 6000/0.04
x = 600000/4
x = $150,000
Option C
2)
A + B = 50000
0.065A + 0.075B = 3600
0.065A + 0.075(50000 - A) = 3600
0.065A + 3750 - 0.075A = 3600
-0.01A = -150
A = 15000
Option D
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