An estate agent charges 0.75% fees .

[tehmatriks]

An estate agent charges 0.75% fees...

Homework Statement

An estate agent charges 0.75% fees on the sale price of a house.
1. Find his fees if a house is sold for €450,000 and VAT @ 20% is added on.
2. Find the selling price of a house if the fees are €2775 before VAT is added

Homework Equations

The Attempt at a Solution

i just need to be explained what is going on here.

 

[madmike159]

Ok to start with find 1% of 450,000. (divide by 100 then times by 1).
So to find 20% its just 20 times 1%.
Now add this value to 450,000 which gives you the price with VAT.

Now you need to find the fee of the sale price.
Now do the same thing again, find 1% of your new number then times it by 0.75.
That is the agents fee.