A man takes commission at the rate of 2% on first 50,000, 7% on next 50,000 and 0.5% on remaining price. Find bis commission on the car that has been silf for 2,38,000.
What is this? 2,38,000
Find the commission on the car that has been sold for 2,38,000
To find the man's commission on the car that sold for 2,38,000, you need to calculate the commission for each tier and then add them together.
First, let's calculate the commission for the first tier, which is 2% on the first 50,000:
Commission (first tier) = 2% of 50,000
Commission (first tier) = (2/100) * 50,000
Commission (first tier) = 1,000
Next, calculate the commission for the second tier, which is 7% on the next 50,000:
Commission (second tier) = 7% of 50,000
Commission (second tier) = (7/100) * 50,000
Commission (second tier) = 3,500
Now, calculate the remaining price after accounting for the first two tiers:
Remaining Price = Total Price - (First Tier Price + Second Tier Price)
Remaining Price = 2,38,000 - (50,000 + 50,000)
Remaining Price = 1,38,000
Finally, calculate the commission for the remaining price at a rate of 0.5%:
Commission (remaining price) = 0.5% of Remaining Price
Commission (remaining price) = (0.5/100) * 1,38,000
Commission (remaining price) = 690
Now, add all the commissions together to get the total commission:
Total Commission = Commission (first tier) + Commission (second tier) + Commission (remaining price)
Total Commission = 1,000 + 3,500 + 690
Total Commission = 5,190
Therefore, the man's commission on the car that sold for 2,38,000 is 5,190.