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Question
When transactions like sale, purchase, auction etc. are done through some middlemen, such middlemen are called ______
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Solution
an agent
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RELATED QUESTIONS
A salesman receives 3% commission on the sales up to ₹ 50,000 and 4% commission on the sales over ₹ 50,000. Find his total income on the sale of ₹ 2,00,000.
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Choose the correct alternative.
An agent who is given the possession of goods to be sold is known as
The date on which the period of the bill expires is called
The payment date after adding 3 days of grace period is known as ______.
Fill in the Blank.
A _______ is an agent who brings together the buyer and the seller.
Broker is an agent who gives a guarantee to seller that the buyer will pay the sale price of goods.
State whether the following statement is True or False.
The buyer is legally allowed 6 days grace period.
A shop is sold at 30% profit, the amount of brokerage at the rate of `3/4`% amounts to
₹ 73,125. Find cost of the shop
The present worth of ₹ 11,660 due 9 months hence is ₹ 11,000. Find the rate of interest.
Choose the correct alternative:
A salesman receives 3% commission on the sales up to ₹ 50,000 and 4% commission on the sales over ₹ 50,000. His total income on the sale of ₹ 2,00,000 is ______.
The buyer is legally allowed ______ days grace period
State whether the following statement is True or False:
A factor is an agent who is given the possession of goods and enters a contract for sale in his/her own name
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
An agent places insurance for ₹ 4,00,000 on life of a person. The premium is to be paid annually at the rate of ₹ 35 per thousand per annum. Find the agent’s commission at 15% on the premium.
An agent was paid ₹ 88,000 as a commission on the sales of computers at the rate of 12.5%. If the price of each computer was ₹ 32,000, how many computers did he sell?
Mr. Pavan is paid a fixed weekly salary plus commission based on percentage of sales made by him. If on the sale of ₹68,000 and ₹73,000 in two successive weeks, he received in all ₹9880 and ₹10, 180. Complete the following activity to find his weekly salary and the rate of commission paid to him.
Solution: Income of Mr. Pavan = Weekly salary + Commission on sales
Salary + Commission on ₹68,000 = ₹9880 ... (1)
Salary+ Commission on ₹73,000 = ₹10,180 ... (2)
Subtracting (1) from (2), we get
Commission on ₹5000 = ₹ `square`
∴ the rate of commission = `square/5000 xx 100` = 6%
Commission on ₹68,000 at 6% = ₹`68000 xx6/100 = square`
From (1) and (3), we get Salary = ₹(9880 - 4080) = `square`
Hence, fixed weekly salary is ₹5800 and the rate of commission is 6%.
