i need help with a commission problem

Question

When John sold his home he had to pay a 5.5% commission to the real estate agent. After the real estate agent took his cut, John’s net on the sale of his home was $398,000. What was the selling price of John’s home?

Answer 1

let x be the selling price

5.5% commission means John just got 94.5% of the home price, so:

 

94.5%x = 398,000

 

x = 398000/.945 = $421,164.02