Commission Problem: A real estate agent in the Philippines earns a 5% commission on the sale of a house. If they sell a house for ₱3,000,000, how much commission do they earn? Sales Tax Problem: A new phone costs ₱25,000. The value-added tax (VAT) in the Philippines is 12%. What is the final price of the phone, including VAT?
Answer (2)
Answer:Commission Problem:A real estate agent in the Philippines earns a 5% commission on the sale of a house. If they sell a house for ₱3,000,000, how much commission do they earn?To solve this commission problem:Commission Rate: 5%House Sale Price: ₱3,000,000Step 1: Convert the percentage to decimal5% = 0.05Step 2: Multiply the sale price by the commission rate₱3,000,000 × 0.05 = ₱150,000Final answer : 150,000 pesos.Sales Tax Problem:A new phone costs ₱25,000. The value-added tax (VAT) in the Philippines is 12%. What is the final price of the phone, including VAT?To solve this sales tax problem:Original Price of Phone: ₱25,000VAT Rate: 12%Step 1: Convert the VAT rate to decimal12% = 0.12Step 2: Calculate the VAT amount₱25,000 × 0.12 = ₱3,000Step 3: Add the VAT to the original price₱25,000 + ₱3,000 = ₱28,000Final answer: 28,000 pesos
The real estate agent earns a commission of ₱150,000.Sales Tax Problem:Step 1: Calculate the VAT amountVAT = Price × VAT RateVAT = ₱25,000 × 0.12Step 2: Calculate the VATVAT = ₱25,000 × 0.12 = ₱3,000Step 3: Calculate the final priceFinal Price = Price + VATFinal Price = ₱25,000 + ₱3,000 = ₱28,000
