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Question
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.
Solution
Policy value = ₹ 4,00,000
Rate of premium = ₹ 35 per thousand p.a.
∴ Amount of premium = `35/1000 xx 4,00,000`
= ₹ 14,000
Rate of commission = 15%
∴ Amount of commission = `14000 xx 15/100`
= ₹ 2100
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Solution: Total selling Price of three cars = 2,40,000 + 2,22,000 + 2,25,000
= `square`
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= `14/100 xx square`
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= `17.5/100 xx 2,40,000 = square`
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= `12.5/100 xx 2,22,000 = square`
∴ Commission on second car = ₹ `square`
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Commission on third car = `x/100 xx 2,25,000`
∴ Commission on third car = Total commission − (commission on first car + commission on second car)
∴ `x/100 xx 2,25,000 = square - {square + square}`
∴ x = `square`
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?
