Question

A agent gets 2% commission on selling a house of Rs.8000000,2.5% commission for more than Rs.80 lakh to Rs.90 lakh and 3% commission for above Rs.9000000 then , find the commission received by the agent if the house has been sold on Rs.9000000 and also find the total amount received by the house owner with Rs.20000 expenses.​

Answer 1

The agent receives a total commission of Rs.185000 for selling the house at Rs.9000000. After paying the commission and Rs.20000 in expenses, the house owner receives a total amount of Rs.8795000.

Step-by-step explanation:

The agent's commission for selling the house at Rs.9000000 can be calculated based on the commission rates provided. As the commission rate changes at different price points, we first calculate the commission for Rs.8000000 at 2%, then the remaining Rs.1000000 at 2.5%. Since the house sold for Rs.9000000, it does not reach the 3% commission threshold.

For the first Rs.8000000:

Commission = 2% of Rs.8000000

= 0.02 × 8000000

= Rs.160000

For the next Rs. 1000000 (Rs.9000000 - Rs.8000000):

Commission = 2.5% of Rs.1000000

= 0.025 × 1000000

= Rs.25000

Total Commission = Rs.160000 + Rs.25000

= Rs.185000

Next, to find the total amount received by the house owner after the sale and expenses:

• Total amount received = Selling Price - (Commission + Expenses)
• Total amount received = Rs.9000000 - (Rs.185000 + Rs.20000)
• Total amount received = Rs.9000000 - Rs.205000
• Total amount received = Rs.8795000

The agent receives a commission of Rs.185000, and after subtracting the commission and expenses from the selling price, the house owner receives Rs.8795000.