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Question
Choose the correct alternative.
An agent who is given the possession of goods to be sold is known as
Options
Factor
Broker
Auctioneer
Del Credere Agent
Solution
Factor
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RELATED QUESTIONS
Anita is allowed 6.5% commission on the total sales made by her, plus a bonus of `1/2`% on the sale over ₹ 20,000. If her total commission amounts to ₹ 3,400, find the sales made by her.
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.
Mr. Pavan is paid a fixed weekly salary plus commission based on a percentage of sales made by him. If on the sale of ₹ 68,000 and ₹ 73,000 in two successive weeks, he received in all ₹ 9,880 and ₹ 10,180, find his weekly salary and the rate of commission paid to him.
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.
An agent is paid a commission of 7% on cash sales and 5% on credit sales made by him. If on the sale ₹ 1,02,000 the agent claims a total commission of ₹ 6,420, find his cash sales and credit sales.
A retailer sold a suit for ₹ 8,832 after allowing 8% discount on marked price and further 4% cash discount. If he made 38% profit, find the cost price and the marked price of the suit.
An agent charges 10% commission plus 2% delcreder. If he sells goods worth ₹ 37,200, find his total earnings.
A certain sum due 3 months hence is `21/20` of the present worth, what is the rate of interest?
The payment date after adding 3 days of grace period is known as ______.
Fill in the Blank.
A _______ is an agent who brings together the buyer and the seller.
Broker is an agent who gives a guarantee to seller that the buyer will pay the sale price of goods.
State whether the following statement is True or False.
The buyer is legally allowed 6 days grace period.
The present worth of ₹ 11,660 due 9 months hence is ₹ 11,000. Find the rate of interest.
An agent is paid a commission of 4% on cash sales and 6% on credit sales made by him. If on the sale of ₹ 51,000 the agent claims a total commission of ₹ 2,700, find the sales made by him for cash and on credit.
An agent who gives guarantee to his principal that the party will pay the sale price of goods is called ______
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.
Solution: Total selling Price of three cars = 2,40,000 + 2,22,000 + 2,25,000
= `square`
Commision on total sale = 14%
= `14/100 xx square`
Selling price of First car = ₹ 2,40,000
Rate of commission = 17.5%
= `17.5/100 xx 2,40,000 = square`
∴ Commission on first car = ₹ `square`
Selling price of Second car = ₹ 2,22,000
Rate of commission = 12.5%
= `12.5/100 xx 2,22,000 = square`
∴ Commission on second car = ₹ `square`
Selling price of third car = ₹ 2,25,000
Let the rate of commission be x
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`
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%.
