Questions i need to be answered (1 Viewer)

[davohan123]

A real estate agent charges a commission of

2.25% for every dollar up to and including $200 000
1.75% for every dollar over $200 000 up to and including $500 000
1.55% for every dollar over $500 000

q1.If you sell your apartment with this real estate agent for $265 000 what commission will the real estate agent receive ?

q2.If you sell your apartment with this real estate agent for $594 000 what commission will the real estate agent receive ?

q3. If the real estate agent earns $16000 from a sale, how much did the agent sell the house for ?

Thank you again for your time very much appreciated</SPAN>

 

[Drongoski]

Are u doing a real estate course or what ?

 

[davohan123]

Are u doing a real estate course or what ?

yes i am doing accounting and have been asked by my teacher these questions . Even though commission to some people is easy i just dont get it
If you help with this question Drongoski or anyone else much appreciated

 

[x.Exhaust.x]

yes i am doing accounting and have been asked by my teacher these questions . Even though commission to some people is easy i just dont get it
If you help with this question Drongoski or anyone else much appreciated

Next time, please make a thread in the accounting section of the forum, as I'm sure you'll get more replies:

Bored Of Studies Main Page > New South Wales (HSC) > Scroll down until you see "accounting".

 

[j92]

q.1 2.25/100 * 200,000 + 1.75/100 * 65,000 = $5637.50 (i think)

 

[study-freak]

A real estate agent charges a commission of

2.25% for every dollar up to and including $200 000
1.75% for every dollar over $200 000 up to and including $500 000
1.55% for every dollar over $500 000

q1.If you sell your apartment with this real estate agent for $265 000 what commission will the real estate agent receive ?

Total Commission =200000x2.25/100+65000x1.75/100 =$5637.50

q2.If you sell your apartment with this real estate agent for $594 000 what commission will the real estate agent receive ?

Total Commission =200000x2.25/100+300000x1.75/100+94000x1.55/100 =$11207

q3. If the real estate agent earns $16000 from a sale, how much did the agent sell the house for ?

Total Commission =$16000=200000x2.25/100+300000x1.75/100+Mx1.55/100 =$9750+Mx1.55/100
Therefore, Mx1.55/100 =$6250
M=625000/1.55 =approximately $403225.81 correct to 2 d.p
Total Price of House=$500000+M =approximately $903225.81 correct to 2 d.p