If the personal property sold for $67,854.50 and had a commission of 12%, what is the total commission on the personal property?

If the personal property sold for $67,854.50 and had a commission of 12%, what is the total commission on the personal property?

• A. $8,000.00
• B. $7,500.00
• C. $8,142.54
• D. $8,500.00

Answer: (C)

To determine the total commission on the personal property sold for $67,854.50 with a commission rate of 12%, you start by calculating the commission amount using the formula: Total Commission = Sale Price × Commission Rate. In this case, you would multiply $67,854.50 by 0.12 (which is 12% expressed as a decimal): Total Commission = $67,854.50 × 0.12 = $8,142.54. This calculation shows how much commission is earned based on the sale price of the personal property. Therefore, the correct answer effectively represents the proper commission amount based on the defined sale price and commission percentage, demonstrating a clear application of basic percentage calculation in real estate transactions.

To determine the total commission on the personal property sold for $67,854.50 with a commission rate of 12%, you start by calculating the commission amount using the formula:

Total Commission = Sale Price × Commission Rate.

In this case, you would multiply $67,854.50 by 0.12 (which is 12% expressed as a decimal):

Total Commission = $67,854.50 × 0.12 = $8,142.54.

This calculation shows how much commission is earned based on the sale price of the personal property. Therefore, the correct answer effectively represents the proper commission amount based on the defined sale price and commission percentage, demonstrating a clear application of basic percentage calculation in real estate transactions.