The split-up of sales of life insurance by distribution channels for India in 2002 is the same as that of Spain. If the insurance agents in India are paid a commission of 0.5% of their sales, then what is the amount of commission earned by them?

Solution

Total sales of India in 2002 (in million dollars) = 15000

Sales of commission agents = $$\frac{14}{100}\times15000=2100$$ million dollars

=> Commission earned (in million dollars) = $$\frac{0.5}{100}\times2100=10.5$$ million dollars

=> Ans - (C)

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