Commission & Profit: Definitions, Equations & Examples


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question 1 of 3

Which of the following is the correct formula for calculating profit?

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1. Part of Gina's pay includes a commission of 4% of everything she sells. If she sells $500 in one week, how much commission will she earn?

2. Calculate profit given the following information: revenue from sales = $1,500 and expenses = $800.

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About This Quiz & Worksheet

Commission and profit are two topics you can test your knowledge of thanks to this quiz and worksheet. You need to know how to calculate profit to do well on the quiz.

Quiz & Worksheet Goals

You will be tested on these topics:

  • Finding the commission
  • Calculating total pay
  • The correct formula for calculating profit
  • Determining profit

Skills Practiced

  • Problem solving - use acquired knowledge to solve profit practice problems
  • Knowledge application - use your knowledge to answer questions about calculating profit and commission
  • Interpreting information - verify that you can read information about the formula used to find profit and interpret it correctly

Additional Learning

Use the lesson titled Commission & Profit: Definitions, Equations & Examples to see what more you can learn. Some tasks you can cover include:

  • Define commission
  • Review examples of costs
  • Practice using the profit equation