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If a real estate agent received a commission of 6 percent of the selli

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If a real estate agent received a commission of 6 percent of the selli  [#permalink]

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New post 12 Dec 2014, 07:21
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Question Stats:

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Tough and Tricky questions: Word Problems.



If a real estate agent received a commission of 6 percent of the selling price of a certain house, what was the selling price of the house?

(1) The selling price minus the real estate agent’s commission was $84,600.
(2) The selling price was 250 percent of the original purchase price of $36,000.

Kudos for a correct solution.

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Re: If a real estate agent received a commission of 6 percent of the selli  [#permalink]

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New post 12 Dec 2014, 09:35
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statement 1: sufficient
not sure how to figure this out but since we are given an equation (selling price-commission=84,600) and we know that the commission was 6%, there's only 1 possibility for the selling price after reading statement 1

statement 2: sufficient
250% of 36,000 = selling price

Answer D!
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Re: If a real estate agent received a commission of 6 percent of the selli  [#permalink]

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New post 12 Dec 2014, 09:45
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Statement 1 : The selling price minus the real estate agent’s commission was $84,600.

S.P (1-6/100) = 84,600 . We can find out the Selling Price. Hence sufficient.

Statement 2 : The selling price was 250 percent of the original purchase price of $36,000.

S.P = 250/100 * 36000. Sufficient.

Hence the answer should be D)
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Re: If a real estate agent received a commission of 6 percent of the selli  [#permalink]

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New post 19 Dec 2014, 12:55
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Solution: Determine Selling Price?

Statement 1: The selling price minus the real estate agent’s commission was $84,600
84600=94% Selling Price - Sufficient

Statement 2: The selling price was 250 percent of the original purchase price of $36,000
Selling Price= 250*36000/100 - Sufficient

Each statement alone is sufficient, Answer D
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Re: If a real estate agent received a commission of 6 percent of the selli  [#permalink]

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New post 19 Aug 2017, 00:29
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Re: If a real estate agent received a commission of 6 percent of the selli   [#permalink] 19 Aug 2017, 00:29
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