Question

A man sold his house for $125,000. After paying he broker his commission, the man received $116,875. What was the broker’s commission percentage?

Answer 1

Answer:

The broker's commission was 6.5%

Step-by-step explanation:

Selling price  -  commission  =  net funds received.  Leet c represent the commission rate as a decimal fraction:

$125,000 - $125,000c = $116,875

Solve for c.  To do this, subtract $116,875 from both sides:

$8,125 = $125,000c.  Then c = 0.065

The broker's commission was 6.5%