waecmaths question:
Eric sold his house through an agent who charged 8% commission on the selling price.
If Eric received $117,760.00 after the sale, what was the selling price of the house?
Option A:
$130,000.00
Option B:
$128,000.00
Option C:
$125,000.00
Option D:
$120,000.00
waecmaths solution:
$\begin{align} & \text{Let the selling price be }x\text{ dollars} \\ & Commission=x\times \frac{8}{100}=\frac{8x}{100} \\ & \text{Amount collected by Eric} \\ & x-\frac{8x}{100}=117,760 \\ & \frac{100x-8x}{100}=117,760 \\ & \frac{92x}{100}=117,760 \\ & 92x=11,776,000 \\ & x=\frac{11,776,000}{92}=128,000 \\ & \text{The house is sold for 128,000dollars} \\\end{align}$
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