Question

Binod sold his house at a discount of 5% on his marked price. Due to the payment of cash, he further gave a 5% commission of the remainder to the broker, and he gets rupees 4000000. Find the marked price of the house.

Answer 1

To find the marked price of Binod's house, we determine the amount Binod received after a 5% discount and a 5% commission. We set up an equation based on the final amount received and work backwards, leading to a marked price of approximately 4,433,024.77 rupees.

Step-by-step explanation:

We have a scenario where Binod sold his house at a 5% discount off the marked price and then paid a 5% commission to the broker on the remaining amount, ultimately receiving 4,000,000 rupees. To determine the original marked price, we will need to work backwards from the final amount received.

Let x be the marked price. After a discount of 5%, he would have sold it for 95% of x, which we can express as 0.95x. Then he gave a 5% commission on this amount, so the broker took 0.05 × 0.95x. Thus, Binod received 0.95x - (0.05 × 0.95x). This amount equals 4,000,000 rupees.

So we have the equation: 0.95x - (0.05 × 0.95x) = 4,000,000.

Let's solve:

1. First, let's simplify the inside of the parentheses: 0.05 × 0.95x = 0.0475x.
2. Subtract this from 0.95x to find how much Binod gets after the commission: 0.95x - 0.0475x = 0.9025x.
3. Setting this equal to 4,000,000 gives us the equation 0.9025x = 4,000,000.
4. To find x, divide both sides by 0.9025: x = 4,000,000 / 0.9025.
5. This gives us x, the marked price, which is approximately 4,433,024.77 rupees.

Therefore, the marked price of the house was approximately 4,433,024.77 rupees.