A broker charged an average commission of 12 percent on two transactions: one for $600 and the other for $900. If his commission for the $900 transaction was 10 percent, what percent was his commission for the $600 transaction?
A) 1%
B) 12%
C) 13%
D) 14%
E) 15%
total amount is 600 + 900 =1500.
12% of 1500 = 180
10% 0f 900 is 90. so commission on 600 was 90
so 90/600 is 15%
so answer should be 15%.
Avg. = (10+x)/2 = 12. 10 + x = 24, X = 14%.
To find the percent of the commission for the $600 transaction, we need to use the information given in the question.
We know that the total commission charged was $180, which is the sum of the commissions for both transactions.
The commission for the $900 transaction was 10%, which means it was 10% of $900, or $90.
To find the commission for the $600 transaction, we subtract the commission for the $900 transaction from the total commission:
$180 - $90 = $90.
Therefore, the commission for the $600 transaction was $90.
To find the percent commission for the $600 transaction, we divide the commission amount by the transaction amount and multiply by 100:
($90 / $600) * 100 = (0.15) * 100 = 15%.
Therefore, the percent commission for the $600 transaction is 15%.
So the answer is (E) 15%.