Question

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

Answer 1

The broker's commission was rupees 8,250

Explanation:

Selling price of property = rupees 450,000

The sale price is higher than rupees 300,000

Commission for rupees 300,000 = 2% × rupees 300,000 = rupees 6,000

Remaining amount = rupees 450,000 - rupees 300,000 = rupees 150,000

Commission for the remaining amount = 1.5% × rupees 150,000 = 0.015 × rupees 150,000 = rupees 2,250

Total commission = rupees 6,000 + rupees 2,250 = rupees 8,250