An owner sold a mobile home and received $23,500 from escrow. This was the net after paying $240 in expenses plus a 7% commission. What was the selling price?

Question

Quizplus · Accepted Answer

The selling price can be found by setting up the equation: Selling Price = $23,500 (net amount received) + $240 (expenses) + 7% commission of the selling price. Let's denote the selling price as x. So, the equation becomes x = $23,500 + $240 + 0.07x. Solving for x gives us the selling price of $25,527.

An Owner Sold a Mobile Home and Received $23,500 from Escrow