Question

A property dealer charges a commission of 2% on the first 25000 and 1.5 % on the remainder. What commission does he charge for selling a plot of land of 130000

Answer 1

$2075

Explanation:

commission = 0.02 x $25,000 = $500

The remainder = $130,000 - $25,000 = $105,000

Commission on the remainder = 0.015 x $105,000 = $1,575

Total commission = $1,575 + $500 = $2075