Question 1162630: The following is a real estate commission on the selling price of a house.
10% for the first $100,000, and 6% for the amount which exceeds $100,000
A realtor receives $21,880.00 for selling a house. What was the selling price?
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! let x equal the price of the house.
your equation is:
.10 * 100,000 + .06 * (x - 100,000) = 21,880
simplify this to get:
10,000 + .06 * x - 6,000 = 21,880
combine like terms to get:
4,000 + .06 * x = 21,880
subtract 4,000 from both sides to get:
.06 * x = 17,880
solve for x to get:
x = 17,880 / .06 = 298,000
298,000 is the selling price of the house and that's your solution.
to confirm, do the following:
the selling price of the house is 298,000
the first 100,000 gets you a commission of .10 * 100,000 = 10,000.
the remainder gets you a commission of .06 * 198,000 = 11,880.
your total commission is 21,880.
this confirms the solution is correct.
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