Lokesh Is Working In A Furniture Industry As A Marketing Manager He Is Monthly Salary Is Rs 20000 And 0.5% Commission Is Given On The Total Sale If It Is More Than RS 30 Lakh If The Total Sales Of A Month Is Rs 50 Lakh How Much Is His Income In The
Introduction
As a marketing manager in a furniture industry, Lokesh's primary responsibility is to promote the company's products and services to increase sales. In addition to his fixed monthly salary, he also earns a commission on the total sales made by the company. In this article, we will calculate Lokesh's income for a month when the total sales exceed Rs 30 lakh.
Understanding the Commission Structure
Lokesh's commission is based on the total sales made by the company in a month. If the total sales exceed Rs 30 lakh, he earns a commission of 0.5% on the amount exceeding Rs 30 lakh. This means that if the total sales are Rs 50 lakh, Lokesh will earn a commission on the amount exceeding Rs 30 lakh, which is Rs 20 lakh.
Calculating Lokesh's Commission
To calculate Lokesh's commission, we need to find 0.5% of the amount exceeding Rs 30 lakh.
Commission = 0.5% of (Total Sales - 30 lakh)
Commission = 0.005 x (50 lakh - 30 lakh)
Commission = 0.005 x 20 lakh
Commission = Rs 1,00,000
Calculating Lokesh's Total Income
Lokesh's total income for the month is the sum of his fixed monthly salary and his commission.
Total Income = Fixed Monthly Salary + Commission
Total Income = Rs 20,000 + Rs 1,00,000
Total Income = Rs 1,20,000
Conclusion
In conclusion, Lokesh's income for the month when the total sales exceed Rs 30 lakh is Rs 1,20,000. This is the sum of his fixed monthly salary of Rs 20,000 and his commission of Rs 1,00,000.
Key Takeaways
- Lokesh earns a commission of 0.5% on the amount exceeding Rs 30 lakh.
- The commission is calculated on the amount exceeding Rs 30 lakh, which is Rs 20 lakh in this case.
- Lokesh's total income for the month is the sum of his fixed monthly salary and his commission.
Frequently Asked Questions
Q: What is Lokesh's fixed monthly salary?
A: Lokesh's fixed monthly salary is Rs 20,000.
Q: What is the commission structure for Lokesh?
A: Lokesh earns a commission of 0.5% on the amount exceeding Rs 30 lakh.
Q: How much is Lokesh's commission for the month?
A: Lokesh's commission for the month is Rs 1,00,000.
Q: What is Lokesh's total income for the month?
A: Lokesh's total income for the month is Rs 1,20,000.
References
Glossary
- Commission: A payment made to an employee or agent for services rendered.
- Fixed Monthly Salary: A regular payment made to an employee for their services.
- Total Sales: The total amount of sales made by a company in a month.
Lokesh's Income as a Marketing Manager: Q&A =============================================
Introduction
In our previous article, we calculated Lokesh's income as a marketing manager in the furniture industry. We discussed the commission structure and how it affects his total income. In this article, we will answer some frequently asked questions related to Lokesh's income.
Q&A
Q: What is Lokesh's fixed monthly salary?
A: Lokesh's fixed monthly salary is Rs 20,000.
Q: What is the commission structure for Lokesh?
A: Lokesh earns a commission of 0.5% on the amount exceeding Rs 30 lakh.
Q: How much is Lokesh's commission for the month?
A: Lokesh's commission for the month is Rs 1,00,000.
Q: What is Lokesh's total income for the month?
A: Lokesh's total income for the month is Rs 1,20,000.
Q: How does Lokesh's commission affect his total income?
A: Lokesh's commission is added to his fixed monthly salary to calculate his total income.
Q: What happens if the total sales are less than Rs 30 lakh?
A: If the total sales are less than Rs 30 lakh, Lokesh will not earn any commission.
Q: Can Lokesh's commission be more than his fixed monthly salary?
A: Yes, if the total sales exceed Rs 30 lakh, Lokesh's commission can be more than his fixed monthly salary.
Q: How does Lokesh's income compare to other marketing managers in the industry?
A: Lokesh's income is competitive with other marketing managers in the industry, but it may vary depending on the company's sales and commission structure.
Q: Can Lokesh's income be affected by other factors?
A: Yes, Lokesh's income can be affected by other factors such as bonuses, overtime pay, and benefits.
Conclusion
In conclusion, Lokesh's income as a marketing manager in the furniture industry is affected by his fixed monthly salary and commission structure. We hope this Q&A article has provided you with a better understanding of Lokesh's income and how it works.
Key Takeaways
- Lokesh's fixed monthly salary is Rs 20,000.
- Lokesh earns a commission of 0.5% on the amount exceeding Rs 30 lakh.
- Lokesh's commission is added to his fixed monthly salary to calculate his total income.
- Lokesh's income can be affected by other factors such as bonuses, overtime pay, and benefits.
Frequently Asked Questions
Q: What is the commission structure for Lokesh?
A: Lokesh earns a commission of 0.5% on the amount exceeding Rs 30 lakh.
Q: How much is Lokesh's commission for the month?
A: Lokesh's commission for the month is Rs 1,00,000.
Q: What is Lokesh's total income for the month?
A: Lokesh's total income for the month is Rs 1,20,000.
Q: How does Lokesh's commission affect his total income?
A: Lokesh's commission is added to his fixed monthly salary to calculate his total income.
References
Glossary
- Commission: A payment made to an employee or agent for services rendered.
- Fixed Monthly Salary: A regular payment made to an employee for their services.
- Total Sales: The total amount of sales made by a company in a month.