Question

1. A property dealer charges 2% commission from a buyer or a seller of property If Mr Ram Lal paid * 20,000 as a commission for purchasing a flat, what was the value of the flat?

Answer 1

The commission was 20,000 which was 2% of the total value.

Let the total value be x. Then,

`\begin{gathered} 2\text{ \%}=(20000)/(x)*100\text{ \%} \\ x=(20000)/(2)*100 \\ x=1000000 \end{gathered}`

Hence the value of flat was 1000000.