Question

Kena is about to list her house as For Sale By Owner. What is the minimum she can list the house if she wants to receive a minimum of $231,700 on the sale while still allowing for a 4% commission for the buyer's realtor? Round to the nearest hundred dollars.

Answer 1

Recall that the a% of b can be computed using the following expression:

`b\cdot(a)/(100)\text{.}`

Ler x be the amount (in dollars) that Kena lists her house, since the commission for the buyer's realtor is 4%, then she will receive the 96% of x.

Now, since Kena wants to receive a minimum of $231,700, then we can set the following equation:

`x\cdot(96)/(100)=231700.`

Multiplying the above equation by 100/96 we get:

`\begin{gathered} x\cdot(96)/(100)\cdot(100)/(96)=231700\cdot(100)/(96), \\ x\approx241354.17. \end{gathered}`

Answer: $241,354.17.