Question

A real estate broker receives a commission of 3% of the selling price of a house. If the broker receives a commission of $13,980 on the sale of a home, what was the selling price of the home? $___________

Answer 1

Hello! First, let's get the information contained in the exercise:

• The real state broker receives a commission of 3%

• He received ,$13,980,, equivalent to, 3%

So, how many dollars equals 100%? To find this value, we will use the Rule of Three, look:

Multiplying across, we will get:

$\begin{gathered} 3x=13,980\cdot100 \\ 3x=1,398,000 \\ x=\frac{1,398,000}{3} \\ x=466,000 \end{gathered}$

So, the price of the home was $466,000.