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Question
A real estate agent receives Rs 50,000 as commission, which is 4% of the selling price. At what price does the agent sell the property?
Solution
Given, commission received = 50,000
Also, commission percentage = 4%
Need to find out the price of the property
Let the price of the property = Rs. y
⇒ Now, x% of `n = x/100 xx n`
⇒ `4/100 xx y = 50000`
⇒ `y = (50000 xx 100)/4`
⇒ y = 50000 × 25 = Rs. 1250000
Hence, the selling price of the property is Rs. 1250000
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