Pls help solve this question. Thank You!
1. An insurance company pays each of its agents a salary of $P
per month. The salary consists of a basic pay of $450 plus a
commission of $700 for each of N new policies signed.
a)(i) Express P in terms of N.
(ii) Calculate the salary of an agent in a
particular month in which 5 new policies were signed.
(iii) If the salary of an agent was $2250 in another
month, find how many new policies were signed in that particular
month.
b) Suppose that the insurance company decides to decrease the
monthly basic pay of each of its agents by 2/5 but increase the
commission per new policy signed by 1/10 plus an additional
$20.
(i) Express P in terms of N for the new arrangement.
(ii) Find how many new policies must be signed in a month for
the agent to receive the sames monthly salary under either
arrangement.