Real Estate Math
A South Dakota broker receives a 7% commission on a commercial sale. If the gross commission is $31,500, what was the sale price?
A$400,000
B$440,000
C$450,000✓ Correct
D$420,000
Explanation
Sale Price = Commission ÷ Commission Rate = $31,500 ÷ 0.07 = $450,000.
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