Interest Commission
1) **Problem:** Calculate the interest earned on a savings deposit of 17800 at an annual interest rate of 5.5% after 3 years.
**Given:**
- Principal, $P = 17800$
- Rate of interest, $r = 5.5\% = 0.055$
- Time, $t = 3$ years
**Steps:**
1. The formula for simple interest is $$I = P \times r \times t$$.
2. Substitute the values: $$I = 17800 \times 0.055 \times 3$$.
3. Calculate: $$I = 17800 \times 0.165 = 2937$$.
**Final Answer:** The interest earned is $2937$.
2) **Problem:** Find the rate of commission if Jerry sold mangoes for 7500 and received a commission of 637.5.
**Given:**
- Commission amount, $C = 637.5$
- Total sales, $S = 7500$
**Steps:**
1. The formula for commission rate is $$\text{Rate} = \left(\frac{C}{S}\right) \times 100\%$$.
2. Substitute the values: $$\text{Rate} = \left(\frac{637.5}{7500}\right) \times 100\%$$.
3. Calculate the fraction: $$\frac{637.5}{7500} = 0.085$$.
4. Multiply by 100: $$0.085 \times 100\% = 8.5\%$$.
**Final Answer:** The rate of commission is $8.5\%$.