Suppose you are interested in selling your home and would like to clear a net value of $300,000. If you have agreed to pay your broker a commission of 5.5% (no matter who ultimately is responsible for finding the buyer), what price must you sell the home for in order to meet your net profit (rounded to the nearest dollar)?
A) $282,540
B) $300,000
C) $316,500
D) $317,460

Question

Quizplus · Accepted Answer

Let X be the selling price, then we have:
X - 0.055X = 300,000
0.945X = 300,000
X = 317,460
Therefore, the selling price must be $317,460 to obtain a net profit of $300,000 after paying a 5.5% commission to the broker. The correct answer is D.

Suppose You Are Interested in Selling Your Home and Would