Question

At a certain real estate firm, realtors selling homes receive a commission of: 7% for the first $100,000 of the selling price, and 6% for any amount exceeding $100,000. A realtor for the firm received $7,540 for selling a house. What was its selling Commision 71. (100,000+ 31. (X - The house sold for $ price?

Answer 1

Answer: The actual price of house sold at $109000.

Step-by-step explanation:

Since we have given that

Selling price = $100000

Rate of commission = 7%

So, Amount of commission would be

$\dfrac{7}{100}\times 100000\\\\\=\ 7000$

Total commission = $7540

So, Remaining amount of commission would be

$\ 7540-\ 7000\\\\=\ 540$

Rate of commission exceeding $100000 = 6%

Let the selling price of house be 'x'.

According to question,

$\dfrac{6}{100}\times x=540\\\\0.06x=540\\\\x=\dfrac{540}{0.06}\\\\x=\ 9000$

Hence, the actual price of house sold at

$100000+$9000=$109000.