A property dealer charges 2℅ of the commission from a buyer or a seller of property . If the seller paid 20000 ruppes as commission for purchasing the flat . What was the value of the flat?
Let the value of the flat = x
% charged by the property dealer as commision = 2%
Amount paid as a commission = 20,000
=> 2% of rs.X = rs 20,000
= 2/100*x = 20,000
= rs.x = 20,000*100/2
= rs.x = rs 10,00,000
=> value of the flat = rs.10,00,000
1000000
Very nice and thank you
Rs 1000000
To find the value of the flat, we can set up a simple equation using the information provided. Let's assume the value of the flat is "x" rupees.
According to the given information, the property dealer charges a commission of 2% on the value of the flat. Therefore, the commission paid by the seller would be 2% of "x" rupees, which can be written as (2/100)*x.
It is given that the seller paid 20,000 rupees as commission for purchasing the flat. So, we can set up the equation:
(2/100)*x = 20,000
To find the value of "x" (the price of the flat), we can solve this equation.
Multiply both sides of the equation by 100 to eliminate the fraction:
2*x = 20,000 * 100
Simplifying further:
2*x = 2,000,000
Divide both sides of the equation by 2:
x = 2,000,000 / 2
x = 1,000,000
Therefore, the value of the flat is 1,000,000 rupees.
20000*2%=400
20000+400=20400
20400 Rupees