Question

A property dealer charges 2% commission from a buyer or a seller of property.
If Mr Ram Lal paid Rs*20,000 as a commission for purchasing a flat, what was the value of the flat?
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Answer 1

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$\large\underline {Given}$

Dealer's commission = 2%

Ram Lal paid money to dealer = 20000 Rs

Value of flat = ?

$\large\underline {solution}$

Let us assume that the value of the flat be $x$.

Commission = 2 × $x$

20000 = $\frac{2×X}{100}$

$x$ = $\frac{20000 × 100}{2}$

= 1000000

So the value of that flat is 1000000 Rs.