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:

Let selling price of the property be x

Commission is calculated @4% of the price of the property at which the agent sells.

Therefore,

Commission = 4% × (x) = 0.04x

The commission is Rs. 50,000. Hence,

0.04x = 50,000

x = (50,000 × 100)/4  = Rs. 12,50,000

Hence the property is sold at Rs. 12,50,000

✦ Try This: A real estate agent receives Rs 60,000 as commission, which is 3% of the selling price. At what price does the agent sell the property?

Let Selling Price of the property be x

Commission is calculated @3% of the price of the property at which the agent sells.

Therefore,

Commission = 3% × (x) = 0.03x

The commission is Rs. 60,000. Hence,

0.03x = 60,000

x = (60,000 × 100)/3  = Rs. 20,00,000

Hence the property is sold at Rs. 20,00,000

☛ Also Check: NCERT Solutions for Class 8 Maths

NCERT Exemplar Class 8 Maths Chapter 9 Problem 114

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

Summary:

A real estate agent receives Rs 50,000 as commission, which is 4% of the selling price. The price at which  the agent sells the property is Rs. 12,50,000

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