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QuizMultiple Choice

Planning for the Cost of College — Unit test

Question 1 • 2027 Ignite Financial Literacy-Personal Finance - EL3403

Bob gets paid an annual salary of $30,000 and earns 5% commission on all sales he makes. If Bob wants to make $6,000 this month, how much in sales does he need to have?

Answer
A
$50,000
B
$70,000
C
$90,000
D
$120,000

Explanation

Bob’s monthly salary is $30,000 ÷ 12 = $2,500. To earn $6,000 this month, he needs $6,000 − $2,500 = $3,500 in commission. Since commission is 5% of sales, the required sales are $3,500 ÷ 0.05 = $70,000. The correct choice is $70,000.

AI-written and checked against the verified answer.

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