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Question
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
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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
∴ 48,500 = `x - (3x)/100`
∴ 48,500 = `(97x)/100`
∴ x = `(48,500 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
= `2/10 xx 50,000`
= ₹ 1,000
∴ 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.
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