Question

) A real estate agent sells a unit for $800 000. The commission rate is 2.75% of the selling price. Calculate the commission. (A) $25 000 (B) $27 750 (C) $220 000 (D) $22 000

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Answer 1

The answer is (D) $22 000

Explanation:

800,000/100 = 8,000

I did this to show 1% of 800,000 is 8,000 (To find 1% of a number always divide it by 100)

8,000*2.75=22,000

I did this because since I know 8,000 is 1% percent of the price I can times it by the percentage rate to find how much the commission is. Also note that there are other ways to solve this equation that may suit you better, this is the way I do it and I find it much more faster.