Question

The Stock Market Alexander is a stockbroker. He earns 12% commission each week. Last week, he sold $5,300 worth of stocks. How much did he make last week in commission? If he averages that same amount each week, how much did he make in commission in 2011? Last week, he made $ in commission.

Answer 1

It is given that Alexander earns 12% commission each week.

Last week, he sold $5300 worth of stocks.

The amount he made last week in commission was

$\begin{gathered} \frac{12\times5300}{100} \\ =636 \end{gathered}$

So, he made $636 last week in commission

He averages the same amount each week.

So, it is convenient to consider that he makes $636 in a week.

In 2011, there were 52 weeks.

So, the amount he made in 2011 is

$52\times636=33072$

So, he made $33072 in the year 2011