Real Estate Math
A seller nets $285,000 from the sale of their home. The sales commission was 6% of the sales price. What was the sales price?
A$302,100
B$303,191✓ Correct
C$300,000
D$315,000
Explanation
Net proceeds = Sales Price × (1 – 0.06). $285,000 = SP × 0.94. SP = $285,000 / 0.94 = $303,191.49, approximately $303,191. The seller retains 94% of the sales price after the 6% commission.
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