Question 117192: If the owner gets $50,000 and the Realtor got 10% of the selling price, the house sold for $55,000. True or false, explain the answer
Found 2 solutions by checkley71, stanbon:
Answer by checkley71(8403)   (Show Source):
You can put this solution on YOUR website! THE OWNER GETS 90% BECAUSE THE REALTOR GET 10%
SO 0.9*SELLING PRICE=50,000
SELLING PRICE=50,000/.9
SELLING PRICE=$55,555.56 THE STATEMENT IS FALSE.
PROOF
55,555.56-.10*55,555.56=50,000
55,555.56-5,555,56=50,000
50,000=50,000
55,000-.10*55,000=55,000-5,500=49,500 WHICH IS THE MONEY THE OWNER WOULD HAVE RECEIVED HAD THE HOUSE SOLD FOR 55,000 AND THE REALTOR RECEIVED 10%.
Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! If the owner gets $50,000 and the Realtor got 10% of the selling price, the house sold for $55,000. True or false, explain the answer.
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Let the selling price be "x".
EQUATION:
90%*x = 50,000
x = 50,000/0.90
x = $55,555.55
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Cheers,
Stan H.
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