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O-LevelCommerceFinance7100/11 · Oct/Nov 2023 · Q351 Mark

Mr Singh is a franchisee who has to pay monthly royalty payments of $500 plus 5% of his shop's turnover. If this month's sales have been $20000, how much are this month's royalties?

A$1000

B$1500

C$6000

D$18500

✓ Correct answer

B: $1500

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About this question

Topic: Finance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2023 Paper 1 Variant 1, question 35.

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