A partnershio between two companies calls for company A to get a flat fee of $25,000 from company B each month, plus 15% of all sales for the jointly developed product sold by company B. If company sells a total of $1,200000 of the jointly developed product in the first twelve months, what will be the total amount owed company A by company B?
Answers
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Step-by-step explanation:
Ans: 480000
25000x12 = 300000
1200000x15/100 = 180000
300000 + 180000 = 480000
Step-by-step explanation:
To solve this question, we just need to know how to calculate a given percentage.
Percentage means any proportion of something in relation to its whole amount.
First, it's stated that Company A would get a flat fee of $25,000 from Company B each month.
So the total flat fee after 12 months would be
Total Flat Fee = 25000 × 12
Total Flat Fee = $300,000
It's also stated that Company A would receive an additional 15% of the total sales for the jointly developed product sold by Company B. If the company sells a total of $1,200,000 of the Jointly developed product then the additional amount of fee would be
Additional Sales Fee = 15% of 1200000
Additional Sales Fee = 15 × 12000
Additional Sales Fee = $180,000
Total amount to be paid by Company B to Company A would be
Total Amount = Total Flat Fee + Additional Sales Fee
Total Amount = 300000 + 180000
Total Amount = $480,000
Therefore Company B needs to pay a total of $480,000 to Company A.
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