# RE Practice - Math Questions

Real Estate Broker um The Real Estate School of the Lancaster County Association of Realtors
22. May 2023
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### RE Practice - Math Questions

• 1. Unit 13 – The Real Estate Business 14. A property was listed for sale at \$100,000. If the original cost was 80% of the list price, what will the profit be if it sells for \$100,000? Get rid of the words: Sale price = \$100,000 Original Cost = \$100,000 x 80% % Profit = ? \$80,000 = 100% \$20,000 = • \$20,000 x 1.00 = \$20,000 • \$20,000 ÷ \$80,000 = .25 Profit
• 2. Unit 13 – The Real Estate Business 17. A building lot was sold for \$88,000. If the seller made a profit of 10 percent, what was the original cost of the property? Get rid of the words: Sale price = \$88,000 Profit = 10% Original Cost = ? \$88,000 = 110% Original Cost 100% = • \$88,000 x 1.00 = \$88,000 • \$88,000 ÷ 1.10 = \$80,000
• 3. Unit 14 – Real Estate Brokerage 11. A parcel of vacant land 80 feet wide and 200 feet deep was sold for \$200 per front foot. How much money would a salesperson receive for her 60 percent share in the 10 percent commission? Get rid of the words: Commission = 10% Agent Split = 60% Value of Land = \$200/ff Commission Amount = ? 80’ 200’ • 80’ x \$200 = \$16,000 • \$16,000 x .10 = \$1,600 • \$1,600 x .60 = \$960 (Sale Price) (Total Commission)