Question

At a real estate​ agency, an agent sold a house for ​$336000. The commission rate is ​5.5% for the real estate agency and the commission rate for the agent is ​30% 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?

Answer 1

The agency made $18,480 on the house, while the agent earned $5,544 in commission.

Step-by-step explanation:

To find out how much the agency made on the house, we need to calculate their commission.

The commission rate for the agency is 5.5% of the selling price, which is $336,000.

So, the agency made 5.5% of $336,000, which is 0.055 * $336,000 = $18,480.

Next, to find out how much the agent earned in commission, we need to calculate their commission rate.

The agent's commission rate is 30% of the amount the agency gets.

So, the agent earned 30% of $18,480, which is 0.3 * $18,480 = $5,544.