Answer:
The percentage of commission paid on the balance is 3%
Step-by-step explanation:
The Total cost of house = $82,500
The percentage of commission given to broker on first $50,000 = 7%
The total commission amount = $4475
Now the left amount = Total amount - $50,000
Or, the left amount = $82,500 - $50,000 = $32,500
The amount as commission on first $50,000 = 7% of $50,000
Or, The amount as commission on first $50,000 = 0.07 × $50,000 = $3500
∵ The total commission amount = $4475
∴ The balance commission amount after $4475 = $4475 - $3500 = $975
Now Let The percentage of commission on $32,500 be x %
So , x% of $ 32,500 = $975
Or, [tex]\frac{x}{100}\times $32500 = 975[/tex]
∴ x = [tex]\frac{975}{325}[/tex]
I.e x = 3 %
Hence The balance percentage commission is 3% Answer
