Answer to Question #137803 in Financial Math for diyar

Question

Ty is a real estate agent and receives 2.5% commission on the first $200000, 1.5% on the next $100000 and 1% on the value thereafter. Find his commission for selling a property worth $825000

Answer 1

$\frac{2.5}{100}\ \ of\ 200000\ = 5000$

$\frac{1.5}{100}\ \ of\ 100000 = 1500$

$remainder\ =\ 825000\ -\ (200000\ +\ 100000)$

$\frac{1}{100}\ \ of\ 525000 = 5250$

$5,000\ \ +\ 1500\ +\ 5250 = 11,750$

Ty will get a commission of $$11,\ 750$