Question

Bailey is paid a royalty of 11.3% on the net sales of his book. The net sales of his book in the last financial year were $278420. a What was Bailey's royalty payment in the last financial year? b Net sales this financial year are expected to decrease by 15%. What is the expected royalty payment for this financial year?

Answer 1

Answer:

Royalty payment for last year = $31461.46

Royalty payment for this year = $26742.241

Step-by-step explanation:

Nailey's last year financial net sale = $278420

Royalty payment = 11.3%

Hence Bailey's royalty payment for last year = (11.3÷100) × 278420 = $31461.46

Decrease in net sales of his book this year is 15%,

Hence net sales this year = .85 × 278420 = $236657

Royalty payment for this year = 0.113 × 236657 = $26742.241

Answer 2

*Answer*:

$26,742.241

Step-by-step explanation:

A proper look at the image attached will give a detailed explanation to the answer provide above