Question

Kevin, a real estate broker, sold a property and received a 6-1/2% commission. Kevin gave the listings broker 30% of the commission, or $3,575. What was the selling price of the property?

Answer 1

Answer:

the selling price of the property is $183,333

Explanation:

The computation of the selling price of the property is as follows:

= (Price ÷ commission percentage) ÷ ( commission percentage)

= ($3,575 ÷  30%) ÷  (6.5%)

= $183,333.

Hence, the selling price of the property is $183,333

We simply applied the above formula so that the correct value could come