Commission

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Question 1 of 2

A real estate agent gets

3.5 %

$3.5%$ commission on the first $$80{,}000$ on the value of a home and he gets an additional

2 %

$2%$ commission for the remaining balance. How much commission in total will he earn if he sells a home valued at $$420{,}000$ ?

$$$ $$$ (9600)

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A commission is expressed as a percentage of the value of goods sold.

First, draw a line diagram to further understand the given values.

Solve for the remaining balance by subtracting $$80{,}000$ from the value of the house, which is $$420{,}000$ .

$Remaining Balance$ $\text(Remaining Balance)$	$=$ $=$	$$420{,}000-80{,}000$
	$=$ $=$	$$340{,}000$

Next, solve the commission for the first $$80{,}000$ of the value, which will be

3.5 %

$3.5%$ .

	$$3.5\%\times80{,}000$

$=$ $=$	$\frac{3.5}{100}\times\frac{80{,}000}{1}$	Convert values to fraction

$=$ $=$	$$0.035\times80{,}000$	Simplify
$=$ $=$	$$ 2800$ $$2800$

Then, solve the commission for the rest of the value, which will be

2 %

$2%$ .

	$$2\%\times340{,}000$

$=$ $=$	$\frac{2}{100}\times\frac{340{,}000}{1}$	Convert values to fraction

$=$ $=$	$$0.02\times340{,}000$	Simplify
$=$ $=$	$$ 6800$ $$6800$

Finally, add the two commissions to get the total commission

$Total Commission$ $\text(Total Commission)$	$=$ $=$	$2800$ $2800$ $+$ $+$ $6800$ $6800$
	$=$ $=$	$$ 9600$ $$9600$

Hence, the real estate agent will get a total commission of $\underline{$9600}$ .

$ 9600

$$9600$

Question 2 of 2

A real estate agent gets

3 %

$3%$ commission on the first $$90{,}000$ on the value of a home and he gets an additional

1.5 %

$1.5%$ commission for the remaining balance. How much commission in total will he earn if he sells a home valued at $$690{,}000$ ?

$$$ $$$ (11700)

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A commission is expressed as a percentage of the value of goods sold.

First, draw a line diagram to further understand the given values.

Solve for the remaining balance by subtracting $$90{,}000$ from the value of the house, which is $$690{,}000$ .

$Remaining Balance$ $\text(Remaining Balance)$	$=$ $=$	$$690{,}000-90{,}000$
	$=$ $=$	$$600{,}000$

Next, solve the commission for the first $$90{,}000$ of the value, which will be

3 %

$3%$ .

	$$3\%\times90{,}000$

$=$ $=$	$\frac{3}{100}\times\frac{90{,}000}{1}$	Convert values to fraction

$=$ $=$	$\frac{3}{1} \times \frac{900}{1}$ $3/1times900/1$	Simplify
$=$ $=$	$$ 2700$ $$2700$

Then, solve the commission for the rest of the value, which will be

1.5 %

$1.5%$ .

	$$1.5\%\times600{,}000$

$=$ $=$	$\frac{1.5}{100}\times\frac{600{,}000}{1}$	Convert values to fraction

$=$ $=$	$\frac{1.5}{1} \times \frac{6000}{1}$ $1.5/1times6000/1$	Simplify
$=$ $=$	$$ 9000$ $$9000$

Finally, add the two commissions to get the total commission

$Total Commission$ $\text(Total Commission)$	$=$ $=$	$2700$ $2700$ $+$ $+$ $9000$ $9000$
	$=$ $=$	$$11{,}700$

Hence, the real estate agent will get a total commission of $\underline{$11{,}700}$ .

$ 11,700

$$11{,}700$

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