Question

A real estate agent earned $1,625 for selling a property. If his commission rate is 5%, find the selling price of the property.

Answer 1

Let x be the selling price of the property, then we know that the 5% of x is $1,625.

Now, recall that the n% of an amount can be computed by multiplying the amount by

`(n)/(100)\text{.}`

Therefore:

`x*(5)/(100)=1625.`

Solving the above equation for x, we get:

`x=(1625*100)/(5)\text{.}`

Simplifying the above result, we get:

`x=32500.`

Answer:

`32500`

dollars.