What Does the Term Commission Mean in Math?By Marija Kero
Commission is a fee that is paid for a service and it's usually a percentage. Find out what the term commission means in math with help from an experienced mathematics professional in this free video clip.
Hi, my name is Marija, and today I'm going to tell you what the term commission means in Math. So, commission is a fee that is paid for a service and it's usually a percentage. A lot of times people who are in jobs that are sale jobs receive commissions and it's going to be a portion of the sale they make. So, let's say for example that someone in an art gallery sells a painting that is $200 and their commission is 15 percent. So, more often than not, you're going to see the commission be a percent of whatever someone has sold. So, if the sales person's commission is 15 percent on an item they sold for $200, then what we'll do to find out their commission is just to take 15 percent of 200, by multiplying 200 times .15. So, when we do that, we get zero, zero, ten; zero, zero, two. We add this up and we'll move our decimal back two spaces, we get 30; meaning that if someone receive a 15 percent commission on something that costs $200, they would receive $30. So, $30 is the fee that whoever bought the painting for would have to pay in addition to go to the sales person for their services. And that is commission in Math.