Question

A real estate agency sells a house for ​$315000. The real estate agent earns a commission of 5 3/4​%. The real estate agency keeps ​10 1/8% of the sale. Taxes take ​4 1/8%, and the rest goes to the seller. How much does the seller get from the sale of the​ house?

Answer 1

$252000

Explanation:

Amount of real estate without commission = $315000

Total percentage commission on sale = 5 3/4 + 10 1/8 + 4 1/8

5 3/4 + 10 1/8 + 4 1/8 = 23/4 + 81/8 + 33/8

23/4 + 81/8 + 33/8 = 46+81+33/8

23/4 + 81/8 + 33/8 = 160/8

23/4 + 81/8 + 33/8 = 20%

Hence the total percent commission is 20%

Commission amount = 20% of $315000

Commission amount = 20/100 * 315000

Commission amount = 0.2*315000

Commission amount = $63000

The amount the seller get = $315000 = $63000

The amount the seller get= $252000