Price of House, CommissionDate: 8/29/96 at 21:31:42 From: Amanda Z. Vega Frausto Subject: Price of House, Commission Dear Dr. Math, Nina Perez is a real estate agent who recieves a commission of 6 percent of the selling price of each house she sells. The seller of the house pays Nina's commission out of the sale price and keeps the remainder. What should be the sale price of each house if the seller wants to keep $61,000? How do I solve this type of problem? Crystal Vega Date: 8/30/96 at 14:5:15 From: Doctor Jodi Subject: Re: Price of House, Commission Hi Crystal! Since Nina is getting 6 percent of the sale price, the amount the seller wants to keep, $61,000 is 94% of the sale price. To find the sale price use an equation like 61, 000 = .94 x sale_price and then solve for the variable called "sale_price". Does that make sense? Let us know if you need more help! -Doctor Jodi, The Math Forum Check out our web site! http://mathforum.org/dr.math/ Date: 8/30/96 at 10:2:52 From: Doctor Dave Subject: Re: Price of House, Commission Dear Crystal, You need to understand that 6 percent of the sale price is simply a fancy way of saying 6/100 times the sale price. If the realtor is getting 6S/100 and the seller is getting whats left, then the seller is getting 100S/100-6S/100 = 94S/100 or if you prefer 100percentS - 6percentS = 94percentS. Now look at what we know: we know that the seller is getting $61,000 and we discovered that this is the same as 94S/100. So, if we solve this equation (94S/100 = 61,000) for S we have our selling price. I'm sure you know how to solve this but I need the practice so I will show you anyway. 94s/100 = 61000 multiply both sides by 100/94 S = 6100 x 100/94 simplify S = 64893.62 Hint for solving any word problems; when ever you see a word problem in your homework or a test say to yourself "I love word problems" even if you don't mean it. If you say it enough you will start to believe it. Remember, I love word problems... I love word problems. -Doctor Dave, The Math Forum Check out our web site! |
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