At a certain real estate firm,realtors selling homes receive a commission of 7% for the first 140,000 of the selling price, and 5% for any amount exceeding 140,000. A realtor for the firm received 11,350 for selling a house. What was its selling price?

Answer 1

Let X be the selling price

11,350 = 0.07*140,000 + 0.05 (X - 140,000)
= 9,800 + 0.05 X - 7,000
= 2,800 + 0.05 X
0.05 X = 11,350 - 2,800 = 8,550
Finish by completing the last step.