Answer:

Their house and lot were sold for 1,500,000 but they have to deduct the stipulated 105,000 sales commission for their real estate agent. That leaves them with PHP1,395,000.

Step-by-step explanation:

• Given:

PHP1,500,000 House and Lot

Commission of the Real Estate Agent

• Two types of calculating this

a. Long Type

1,500,000*.07= 105,000

1,500,000-105,000= 1,395,000

b. Shortcut

1,500,000*.93= 1,395,000

P.S. (100%-7%= 93%)