Question

Tim receives a 8% commission on each house he sells. If he received a commission of $23,400 what was the value of the house he sold

Answer 1

$292,500

Explanation:

Let H = house value and let C = commission

A 8% commission means that C = 8% of H so the equation is C = 0.08*H

If C = $23400 then

23400 = 0.08*H

H = 23400/0.08 = 292500

So the value of the house is $292,500