Question

E a real estate broker earns a salary of $21,000 plus 2.5% of the value of any real estate sold. last year the broker earned $52,000. what was the total value of all real estate sold by the broker?

Answer 1

Salary of real estate broker = $21,000
plus 2.5% of the value of any real estate sold= 2.5% = 0.025
last year the broker earned = $52,000
total value of real estate sold by the broker = ?
let the total value is X, so the equation will be
$21,000 + 2.5%of X = $52,000
replace 2.5% with 0.025
0.025X = $52,000 -$21,000
0.025X = $31,000
X = $31,000 / 0.025
X = $1,240,000
S the total value of real estate he sold is $1,240,000.