A real estate agent received a 6% commission on the selling price of a house. If his commission was $8,880, what was the selling price of the house?
Let us assume that the selling Price of the house is X.
The real estate agent recieved 6% of the selling price which is 8,880 dollars.
Then we will write: 6% (x) = 8,880
==> (6/100) x = 8880
Let us solve for x.
Let us multiply by 100/6
==> x = 8880 * 100/6
==> x = 148,000 dollars
Then, the selling price of the house is $148,000
The commission of the real estate agent is 6% on the selling price of the house. The commission received is 8880.
Let the selling price be S.
We have 6% of S equal to 8880
=> .06* S = 8880
=> S = 8880/.06
=> S = 148000
Therefore the selling price is $148,000.
It is required to find the price of the house.
Rate of commission r = 6% of the house price p.
Let P be the price of the house.
Then the commission at 6% on P is 6% of P = 0.06P. But this commission of 0.06P is said to be equal to $8880.
=> 0.06P = $8880.
=> P/0.06 = $8880/0.06 = $148000.
> P = $148000.
Therefore the price of the house = $148000.