Question

An insurance collector receives 15% commissions on the premium collected. How much must he collect per week in order that his annual income may be ` 6500/- ?

Answer 1

Explanation:

suppose,

insurance collector collects x premium per day

so

commission per day will be=(x*15)/100=(3*x)/20

according to question

((3*x*365)/20)=6500

so,x=118.72 per day

for a week =7*118.72=831.04 per week

total income for a week will be 831.04

Answer 2

Answer:

Let us assume that the insurance collector collects Rs x each day as premium.

Therefore, his commission in each day will be =(x*15)/100=(3*x)/20

It is given in the question that his income annually should be Rs 6500

Therefore, the required equation will be

((3*x*365)/20)=6500

so, x=118.72 per day

for a week his income would be =7*118.72=831.04

So, income for a week will be 831.04