word problem

Question

Robert and Nikki want to 125,000 from the sale of their home. The realtor's commission rate is 7% of the selling price. What should the selling price be? Round to nearest hundred dollars.

Answer 1

Do you mean they want to HAVE LEFT $125,000?  If so, then:

 

S  = sale price

 

S(1- 0.07) = 125,000

 

S(0.93) = 125,000

 

S = 125,000 / 0.93 ≅ $134,400  [i.e. to nearest $100]