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

Answer 1

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.