Someone earns 6% commission on the value of each house he sells. His commission on a sale was $8700. What was the value of the house?
0.06x = 8700
x = 8700 / 0.06
x = ?
it would b 145,000 right?
Right the house sold for $145,000.
To find the value of the house, we can start by setting up an equation using the information given.
Let's assign the value of the house as 'x.'
The commission earned on the sale is given as 6% of the value of the house. To calculate the commission amount, we multiply the value of the house by the commission rate: 0.06 * x.
The problem states that the commission earned on the sale was $8700. Therefore, our equation becomes:
0.06 * x = $8700
To solve for x, we divide both sides of the equation by 0.06:
x = $8700 / 0.06
Calculating this, we find:
x = $145,000
So, the value of the house is $145,000.