Question

Mr. Johnson worked for a real estate agency. He sold a house for $750,000. The agency's fee for the sale was 9% of the sale price. Mr. Johnson received $25,000 agency's fee as his commission. What percent of the agency's fee did Mr. Johns receive?

Round your answer to the nearest whole number.

Answer 1

`37.03%`

Explanation:

Sale price of the house `= $750,000`
Agency's fees `= 9%` of sale price

So, agency's fees

`= $750,000 xx (9/100) = $67,500`

Note: `9%` is written as `9/100` in calculations.

Mr. Johnson's commission `= $25,000`

This commission he got from the agency's fees of `$67,500`, which, in other words, is, Mr. Johnson got `$25,000` from the agency's fees of `$67,500`.

Percent of Agency fees received by Johnson

`= (25000/67500) xx 100%`

`= 37.03%`

Note: when finding percent, the total amount comes in the denominator and the part of the total amount comes in the numerator and then they are divided and the answer is then multiplied by `100%` to get percent.