Mr. Smith sells houses. He earns 6% for every house he sells.Last week, he's sold a house for $175,000. How much commission did he earn? If he has an $11,000 balance on his credit card, will this be enough to pay it off?
Mathematics · High School · Tue Nov 03 2020
Answered on
Given:
6% commission for every house sold.
Determine the commission for $175,000, and if the commission is enough to pay the credit card balance of $11,000
Solution:
In order to find the commission, we simply must change the percentage into a decimal first. In converting a percentage into decimal, divide the percentage by 100, hence in converting a decimal to percentage, multiply the percentage by 100.
= 6/100
=0.06
Now we multiply 0.06 by 175000 in order to get the commission.
= (0.06)(175,000)
= $10,500
His total credit card balance is $11,000 which means that he is $500 dollars short.
Final answer:
Total commission: $10,500
He will not be able to pay his credit card balance of $11,000