Eric sold his house through an agent who charged 8% commission on the selling price. If Eric received $117,760.00 after the sale, what was the selling price of the house?
A
$130,000.00
B
$128,000.00
C
$125,000.00
D
$120,000.00
Verified Correct Answer: B.
Step-by-Step Mathematical Solution
\(\frac{8}{100} \times x + 117,760 = x\)
x - \(\frac{8x}{100} = 117,760
\(\frac{92x}{100} = 117,760\)
x = \(\frac{117,760 \times 100}{92}\)
Selling price = N128,000
Source: Myschool Past Questions Archive (Record #57268)