Answer: 2.5%
Step-by-step explanation:
Let's use the rule of 3 here.
If the total price is $275,000 or 100% of the sale, then $6,875 is X% of the total sale.
Let's put money on one side and percentages on the other.
[tex]\frac{275000}{6875}=\frac{100}{x}[/tex]
Solve for x;
[tex]x=\frac{6875*100}{275000}[/tex]
[tex]x=2.5[/tex]
The Percent commission Miguel earn is 2.5%.
Given:
Miguel sells a house = $275,000
His commission for the sale =$6,875.
Step 1:
Let's use the rule of 3 here.
If the total price is $275,000 or 100% of the sale,
then $6,875 is X% of the total sale.
Step 2:
Let's put money on one side and percentages on the other
=275000/6875
= 100/x
Solve for x;
x = 6875×100/275000
x = 2.5
Therefore, Percent commission did Miguel earn is 2.5%.
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