Question

A real estate agent sold a lot for P550,000.00. If his agency pays 10% commission, how much commission will he/she receive?​

Answer 1

P55,000

Explanation:

The amount of commission is found by multiplying the commission rate by the value of the sale(s).

commission = rate × sales

commission = 0.10 × p550,000 = P55,000

The agent will receive P55,000 in commission.

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Check

The amount of commission cannot be more than the value of the sale. It is generally a small fraction of the sale value. Here, it is 1/10.