Advertisements
Advertisements
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
Solution
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.
APPEARS IN
RELATED QUESTIONS
An agent charges 12% commission on the sales. What does he earn if the total sale amounts to ₹ 48,000? What does the seller get?
Priya gets a salary of ₹ 15,000 per month and commission at 8% on the sales over ₹ 50,000. If she gets ₹ 17,400 in a certain month, find the sales made by her in that month.
The income of a broker remains unchanged though the rate of commission is increased from 4% to 5%. Find the percentage reduction in the value of the business.
Deepak’s salary was increased from ₹ 4,000 to ₹ 5,000. The sales being the same, due to reduction in the rate of commission from 3% to 2%, his income remained unchanged. Find his sales.
Three cars were sold through an agent for
₹ 2,40,000, ₹ 2,22,000 and ₹ 2,25,000 respectively. The rates of commission were 17.5% on the first, 12.5% on the second. If the agent overall received 14% commission on the total sales, find the rate of commission paid on the third car.
An agent charges 10% commission plus 2% delcreder. If he sells goods worth ₹ 37,200, find his total earnings.
An agent who gives a guarantee to his principal that the party will pay the sale price of goods is called ______.
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
A salesman gets a commission of 6.5% on the total sales made by him and bonus of 1% on sales ₹ 50,000. Find his total income on a turnover of ₹ 75,000.
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
After deducting commission at `7 1/2`% on first
₹ 50,000 and 5% on balance of sales made by him, an agent remits ₹ 93,750 to his principal. Find the value of goods sold by him.
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 ______.
An agent who gives guarantee to his principal that the party will pay the sale price of goods is called ______
When transactions like sale, purchase, auction etc. are done through some middlemen, such middlemen are called ______
State whether the following statement is True or False:
The trade discount is first calculated on the catalogue (list) price
Ananya gets salary of ₹ 15,000 per month and commission at 8% on the sales over ₹ 50,000. If she gets ₹ 17,400 in a certain month, Find the sales made by her in that month
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%.
