Question

Agent Able received a commission of $2,370 for a property that sold for $79,000. What percent was his commission?

A. 3.5%
B. 3%
C. 4%
D. 2.75%

Answer 1

Agent Able's commission was 3% of the sale price, which is determined by dividing the commission amount by the sale price and then multiplying by 100%.

Step-by-step explanation:

To determine the commission percentage that Agent Able received, you can use the following formula:

Commission Percentage = (Commission ÷ Sale Price) × 100%

Plugging in the given values:

Commission Percentage = ($2,370 ÷ $79,000) × 100%

Commission Percentage = 0.03 × 100%

Commission Percentage = 3%

Therefore, the answer is B. 3%.