An agent sold a car and charged 3% commission on sale value. If the owner of the car received Rs.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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An agent sold a car and charged 3% commission on sale value. If the owner of the car received Rs.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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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 =
100
3x
100
Amount received by the owner = Sale value of the car - Agent's commission
3x
. 48500 = x –
100
.. 48500
100
48500 x 100
.: X =
97
.. X = 7 50,000
:. Sale value of the car is ? 50,000.
. Agent's commission from seller = 3% of sale value
.. 3% of ? 50,000
3 x 50, 000
100
= 7 1,500
Also, he charged 2% commission to the buyer.
.. Agent's commission from buyer = 2% of sale value
= 2% of ? 50,000
2
х 50,000
100
= 7 1000
. Agent's total remuneration = Commission from seller + Commission from buyer
= 1,500 + 1,000 = 7 2,500
.. Sale value of car is { 50,000 and total remuneration of the agent is 2,500.
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