An agent sold a car and charged 3% commission on sale value. If the owner of the car received ₹ 48,500, - Mathematics and Statistics

Sum

An agent sold a car and charged 3% commission on sale value. If the owner of the car received
₹ 48,500, find the sale value of the car. If the agent charged 2% from the buyer, find his total remuneration.

Solution

Let sale value of the car be ₹ x.

Since, agent charged 3% commission on the sale value

∴ Agent's commission from seller = 3% of sale value

= 3% of x = 3/100 xx x

= (3x)/100

Amount received by the owner = Sale value of the car - Agent's commission

∴ 48500 = x - "3x"/100

∴ 48500 = (97x)/100

∴ x = (48500 xx 100)/97

∴ x = ₹ 50,000

∴ Sale value of the car is ₹ 50,000.

∴ Agent's commission from seller = 3% of sale value

∴ 3% of ₹ 50,000

= (3 xx 50,000)/100

= ₹ 1,500

Also, he charged 2% commission to the buyer.

∴ Agent's commission from buyer = 2% of sale value

= 2% of ₹ 50,000

= 2/100 xx 50,000

= ₹ 1000

∴ Agent's total remuneration = Commission from seller + Commission from buyer

= 1,500 + 1,000 = ₹ 2,500

∴ Sale value of car is ₹ 50,000 and total remuneration of the agent is ₹ 2,500.

Concept: Commission and Brokerage Agent
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Chapter 1: Commission, Brokerage and Discount - Miscellaneous Exercise 1 [Page 13]

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Balbharati Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board
Chapter 1 Commission, Brokerage and Discount
Miscellaneous Exercise 1 | Q 4.16 | Page 13
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