How Much Commission Does Peter Earn from Real Estate Sales?

In summary, in the conversation, the speaker has decided to give themselves some things to work out in preparation for an exam. They mention that they will not have access to actual exam questions and that some people may struggle due to dyslexia. Following this, a question is presented about a real estate agent's commission rate and how much they will be paid for selling a house at a specific price. Another question is posed about finding the original price of an item given the selling price and the mark up percentage. Finally, a task is given to determine the percentage change and whether it was an increase or decrease in two sets of numbers. The speaker receives advice and later states that they have figured out the answers.
  • #1
Saree
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Hey, I've decided to give myself some things to work out., in preparation for my Exam. Obviously it's not any questions from the exam, how would i have got ahold of them? They may seem easy, but some people do happen to be Dyslexic:

Peter works as a real estate agent and is paid commission at a variable rate. He receives 4% on the first $100 000 of sales, 21/2 % on the next $100 000 of sales and 11/2% on the remaining balance of sales. If peter sell’s a house for $349 000 how much will he be paid?


Monica knows that the selling price of a walkman is $89.95. She also knows that this price includes a mark up of 10%. What was the original price of the walk-man?
(Potentially you would go like this if it was not a mark up) 89.95 x 10% (without having to use the =’s sign)

And: The Numbers in the left column have been changed to the numbers in the right column. Determine the percentage change and state whether it was an increase or decrease.

3452 ----- 4315
6060 ------- 2908.8
I have already established that both have been increased? But I’m not sure about these percentage changes =[
 
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  • #2
Welcome to PF. Note that our rules state that for all homework type problems we require you to show your work before we can help you; whether you say you've made them up or not! It also helps if you use the homework posting template with which you were provided.

So, what are your thoughts on the questions?

A couple of hints:
2. Think of the $89.95 as 110% of the price, of which you want to find 100%
3. Start by working out the difference between the two numbers. Then work out the ratio of the difference to the original value. From here, calculate the percentage [I wouldn't agree with your statement that both sets of numbers have increased!]
 
  • #3
Thanks for the advice, but i figured it out =]
 

1. How do I prepare for a math exam?

Preparing for a math exam involves several steps. First, make sure you have a clear understanding of the concepts and formulas that will be covered on the exam. This may involve reviewing notes, textbooks, and class materials. Next, practice solving different types of math problems, including ones that involve percentages. Finally, make sure to get enough rest and eat a nutritious breakfast on the day of the exam.

2. How should I approach math questions on an exam?

It's important to read each question carefully and identify what type of problem it is (e.g. percentage increase or decrease, finding a percentage of a number, etc.). Then, use the appropriate formula and show all of your work. Double-check your calculations and make sure you have answered the question completely before moving on to the next one.

3. What are some tips for solving percentage problems?

One helpful tip is to convert percentages to decimals or fractions in order to make calculations easier. It's also important to pay attention to key words in the problem, such as "of," "is," or "increased/decreased by," which can help you determine which formula to use. Additionally, practice solving a variety of percentage problems before the exam.

4. How can I improve my speed and accuracy when solving math problems?

One effective way to improve speed and accuracy is to practice regularly. Set aside a specific amount of time each day to solve math problems, including ones involving percentages. Additionally, try to identify any patterns in the types of problems you struggle with and focus on improving in those areas. Finally, make sure to show all of your work and double-check your calculations to minimize errors.

5. What resources are available for studying math and percentages?

There are many resources available for studying math and percentages, including textbooks, online tutorials, and practice problems. Your teacher or professor may also provide study guides or practice exams. Additionally, consider forming a study group with classmates to review material and work through problems together. Don't be afraid to ask for help from your teacher or a tutor if you are struggling with a particular concept.

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