Real Estate Math
A broker earns a 5% commission on a sale. If the gross commission is $19,500, what was the sale price?
A$350,000
B$375,000
C$380,000
D$390,000✓ Correct
Explanation
Sale price = Commission ÷ Commission Rate = $19,500 ÷ 0.05 = $390,000. To solve this, multiply the relevant values: $19,500, at 5%.. The correct answer is $390,000.. This is a common calculation on the Oregon real estate exam.
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