Question

A seller wants to net $165,000 from the sale of a house after paying the broker's fee of 6%. The seller's gross sales price, to the nearest dollar, will be

A)
$182,242.
B)
$175,532.
C)
$155,000.
D)
$174,900.

Answer 1

To find the gross sales price when the seller wants to net $165,000 after a 6% broker's fee, set up the equation 0.94x = $165,000. Solving for x gives $175,531.91, which rounds to $175,532, so the correct answer is option B.

Step-by-step explanation:

The question involves calculating the gross sales price of a house after accounting for a broker's fee. If the seller wishes to net $165,000 after paying a 6% broker's fee, we can set up an equation in which the gross sales price (let's call it x) minus 6% of x equals $165,000:

0.94x = $165,000

To find the gross sales price (x), we divide both sides of the equation by 0.94:

x = $165,000 / 0.94

x = $175,531.91

After rounding to the nearest dollar, the seller's gross sales price is $175,532, so the correct answer is option B: $175,532.