Question

A broker was to receive a 6 percent commission from the sale of a property. Her salesperson was to receive 45 percent of the 6 percent commission. The sales person received 8100. What was the selling price of the property?

Answer 1

To find the selling price of the property, divide the amount received by the salesperson by their commission percentage and then divide by the broker's commission percentage.

Step-by-step explanation:

To find the selling price of the property, we need to work backwards from the amount the salesperson received and calculate the commission and selling price. Let's break it down step by step:

1. First, we know that the salesperson received $8100, which is 45% of the broker's commission. Therefore, we can calculate the total commission by dividing $8100 by 45%.
2. Next, we divide the total commission by 6% to find the selling price of the property. This is because the broker's commission is 6% of the selling price.

Let's do the calculations:

Total commission = $8100 / 45% = $18,000

Selling price = $18,000 / 6% = $300,000

Therefore, the selling price of the property is $300,000.