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Question
Fill in the Blank.
A _______ is an agent who brings together the buyer and the seller.
Solution
A broker is an agent who brings together the buyer and the seller.
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?
Ms. Saraswati was paid ₹ 88,000 as a commission on the sale of computers at the rate of 12.5%. If the price of each computer was ₹ 32,000, how many computers did she sell?
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.
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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.
A book seller ₹ 1,530 as 15% commission on list price. Find list price of the books.
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A certain sum due 3 months hence is `21/20` of the present worth, what is the rate of interest?
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
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.
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
The present worth of ₹ 11,660 due 9 months hence is ₹ 11,000. Find the rate of interest.
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.
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.
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 ______.
When transactions like sale, purchase, auction etc. are done through some middlemen, such middlemen are called ______
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%.
