Answer:
$5,000.
Step-by-step explanation:
Let x represent cost of each car.
We have been given that your base pay is $10,000, your commission rate is 40%, you sell 15 cars, and you earn $40,000. We are asked to find the cost of each car.
The commission earned on each car would be [tex]\frac{40}{100}x=0.40x[/tex].
The commission earned for selling 15 cars would be [tex]15\times0.40x=6x[/tex].
The total amount earned by you would be base salary plus amount earned in commission.
[tex]6x+10,000=40,000[/tex]
[tex]6x+10,000-10,000=40,000-10,000[/tex]
[tex]6x=30,000[/tex]
[tex]\frac{6x}{6}=\frac{30,000}{6}[/tex]
[tex]x=5,000[/tex]
Therefore, the cost of each car is $5,000.
