Question

Charlie Brown sold a home. The commission rate was 7%. Charlie gave Linus Brown, half of the $4,760 commission. What was the selling price of the house?

Answer 1

Answer:

$68,000

Explanation:

Data provided in the question:

Commission rate on the home = 7% = 0.07

Commission amount for the home = $4,760

Now,

The amount of commission for the home = 7% of the Selling price of the home

therefore,

$4,760 = 7% of Selling price of the home

or

0.07 × Selling price of the home = $4,760

or

Selling price of the home = $4,760 ÷ 0.07

or

Selling price of the home = $68,000