Question

At a real estate agency, an agent sold a house for $306,000. The commission rate is 7.5% for the real estate agency and the commission rate for the agent is 20% of the amount the real estate agency gets. How much did the agency make on the house? How much did the agent earn in commission?

The agency made (answers) on the house

Answer 1

$22,950, $4,590

Explanation:

Divide 306,000 by 100. This equals 3060, or one percent of the profit.

Multiply this profit by 7.5 to get $22,950, which is the amount to agency makes.

To find what the agent makes, divide 22,950 by 10 to get 2,295, or ten percent of the agency's profits. Double it and it will 20 percent or $4,590, the amount the agent makes.

Answer 2

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