Question

A car lot owner pays his sales people a commission of 10% of total sales. Owner wants to make a profit of 1 lakh on each car. The cost price of a car is Nu90000. What must the selling price of the car be for the owner to make a profit and pay commission?

Answer 1

Answer:

selling price = Rs 2,11,111

Step-by-step explanation:

let assume selling price of a car is equal to Rs X

sales = cost + commission + profit

X = 90,000 + 0.1X + 100,000

X = Rs 2,11,111

Answer 2

Step-by-step explanation:

Let total sales is Rs x

Given 5% commission on sale up to Rs 10000

Then 5% of sale 10000 =

100

5

×10000=500 Rs

Then other sale more than 10000=x−10000

So commission on sale more than 10000=

100

4

×(x−10000)

So total commission on sales =

100

4

×(x−10000)+500

So remit =x−[

100

4

×(x−10000)+500]

But given total remit is Rs 31100

∴x−[

100

4

×(x−10000)+500]=31100

⇒25x−x+10000−12500=31100×25

⇒24x=777500−10000+12500

⇒24x=780000

⇒x=32500 Rs

Then total sales is Rs. 32500