Humber/Ontario Real Estate Course 2 Exam Practice

Question: 1 / 1300

What is the selling price of a property if the commission is $3,375 based on a rate of 2.5%?

$135,000

To calculate the selling price of a property when given the commission and the commission rate, you can use the formula:

Commission = Selling Price x Commission Rate

In this question, the commission is $3,375, and the commission rate is 2.5%. We can plug these values into the formula to find the selling price:

$3,375 = Selling Price x 2.5%

To find the selling price, we need to divide the commission by the commission rate:

Selling Price = $3,375 / 2.5% = $3,375 / 0.025 = $135,000

Therefore, the correct answer is $135,000, which corresponds to option A. This is the selling price of the property based on the given commission and commission rate.

Get further explanation with Examzify DeepDiveBeta

$125,000

$140,500

$155,000

$130,000

$130,500

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy