Question

For commission as a realtor, Michelle earns $349 plus 3% of the purchase price for each home she helps buy or sell. If she earned $8,965 in commission on a certain home, find its purchase price.
ANSWER:
$8965- $349= $8616
3/100x= 8616
8616 x 100/ 3= $287,200.

I'm posting this because somebody inboxed me asking for help and before I even got to help them, they deleted the inbox and i couldn't remember their name. I hope you see this and benefit from it, sorry!

Answer 1

Well, let us solve this step by step.

We know that Michelle earns 349 plus 3% of the Purchase price. Let us call the Purchase price as P, so that:

 

Earnings, E = 349 + 0.03 P

 

So if she earns 8,965 (E = 8,965) so we can find P:

 

8,965 = 349 + 0.03 P

0.03 P = 8,616

P = $287,200