Question

A car was bought for 86000/- and sold for 92000/- thought a brocker who charges commission of 2% on purchase and 3% on sales .find the total on the transaction

Answer 1

Answer:

Total Out Charges = Rs 4480

Answer 2

Answer:

1,520/-

Explanation:

Cost price of the car = 86,000/-

Commission @ 2% therefore 86,000*2/100= 1,720

  Commission incurred as car's expense, henceforth, 86,000+1720= 87,720

Now, selling price of the car = 92,000

Commission @ 3% therefore, 92,000*3/100= 2,760

  Commission here is an expense for the income of 92,000 gained,

Therefore, 92,000-2,720= 89,240

Accordingly, total gain = 89,240-87,720= Rs. 1,520/-