Question

A broker takes 2% as a commission for the sale of property of value up to rupees 3,00,000. If the sale price is more than this, the broker charges 1.5% for the remaining amount. If a property was sold for rupees 4,50,000 what was the brokers commission?

Answer 1

Since 4,50,000 rupees is greater than 3,00,000 rupees. Use the 1.5% multiplier to determine the broker's commission:

0.015(4,50,000) = 6,750 rupees.