questions and answers

Algebra
Tutor: None Selected Time limit: 1 Day

he Woods negotiated the following real estate commission on the selling price of their house:

8% for the first $100,000 and
3% for the amount that exceeds $100,000.
The realtor received a commission of $9200 for the selling of the house what is selling price
Oct 6th, 2014

commission on  first $100,000 = 8% of $100,000 = (8/100)(100,000) = $ 8,000 

let amount  that exceeds $100,000.= $ x

commission on amount  that exceeds $100,000.= 3% of x = $(3x/100)

total commision = $(8000 + 3x/100

 = (800,000 + 3x) / 100 = 9200

(800,000 + 3x) = 9200(100)

  3x = 920,000 - 800,000

x = 120,000/3 =40,000

the selling of the house = 100,000 + 40,000 =$140,000

Oct 7th, 2014

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Oct 6th, 2014
...
Oct 6th, 2014
Mar 24th, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer