The Commission on a Transaction Is 3% of the First

question 279

Multiple Choice

The commission on a transaction is 3% of the first $100,000 and 2% of the balance. What was the amount of a transaction where the commission charged was $10,100?

• A) $225,000
• B) $545,000
• C) $310,000
• D) $355,000
• E) $455,000

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Definitions:

Loam

Loam is a fertile soil type that is a balanced mixture of sand, silt, and clay, known for its excellent moisture retention and aeration qualities, suited for agricultural use.

Hydrologic Cycle

The continuous movement of water on, above, and below the surface of the Earth, including processes such as evaporation, condensation, precipitation, and runoff.

Movement

The act or process of moving or being moved from one place, position, or state to another.

Water

A transparent, tasteless, odorless, and nearly colorless chemical substance that is essential for most forms of life and is the most widely used solvent.