Question

a property dealer charge 2% commission from a buyer or seller of property. if Mr Ram Lal paid rupees 20000 as a commission for purchasing a flat, what was the value of the flat?

Answer 1

Let the value of flat be Rs x

ATQ

⇒ x ×$\frac{(2)}{100}$ =2000

⇒ x ×$\frac{2}{100}$ =2000

⇒ x = 0.02 = 2000

⇒x = 2000 ÷ 0.02

⇒ x = 100000

∴ The value of the flat was one lakh or 100000