Question

At a real estate​ agency, an agent sold a house for ​$307,000. The commission rate is 5.5​% for the real estate agency and the commission rate for the agent is 25​% of the amount the real estate agency gets. How much did the agency make on the​ house? How much did the agent earn in​ commission?

Answer 1

The commission that thereal estate agency gets is $16885.

The commission that the agent gets is $76750

How to calculate the commission?

The selling price for a house = $ 307,000

The commission rate for real estate agency = 5.5 %

The commission rate for the agent = 25 %

So, the commission which real estate agency gets:

= 5.5 % of $307,000

= 0.055 × $ 307,000

= $16885

The commission which agent get:

= 25% of $ 382,000

= 0.25 × $ 307,000

= $76750

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