Question

at a certain real estate firm, realtor selling house recieve a comission:6% for the first 160,000 of the selling price, and 4% for any amount exceeding 160,000. a realtor for the firm recieved 10,560 for selling a house, what was its selling price?

Answer 1

Let the amount be x.

6% for the first 160000

= 6/100 * 160000 = 9600

4% for any amount exceeding 160000.

= 4/100 * (x -160000) = 0.04(x-160000)

The sum of both commission should be equal to 10560.

9600 + 0.04(x -160000) = 10560

0.04(x -160000) = 10560 - 9600

0.04(x -160000) = 960 Divide by 0.04.

(x -160000) = 960/0.04

(x -160000) = 24000

x = 24000 + 160000 = 184000.

Selling price = 184000