Question

By paying 2 % brokerage for buying an old scooter for Rs.15,000 through a broker. At what amount is the scooter bought?

Answer 1

Let the cost price of the scooter is Rs x.

Then brokerage amount must be 2% of Rs x.

or, Brokerage amount = 0.02x

Now, acc to the question it is said that the old scooter is bought for Rs.15,000 including brokerage amount.

That means: Rs x + Rs 0.02x = Rs 15,000

or, 1.02x = 15,000

or, x = 15,000/1.02

or, x = Rs 14705.88

Therefore, the scooter is bought at Rs 14705.88

Also the brokerage amount was 0.02*14705.88 = Rs 294.11

Answer 2

Dear Student,

Answer: CP of old scooter ≈ 14,706 Rupees

Amount paid to broker ≈ 294 Rupees.

Solution:

Let the Cost price of old scooter is x Rs.

The amount paid to broker is 2% of the total amount of cost price.

=( 2× x)/100

= 0.02 x

Scooter bought at rupees 15000 Rs.

That means cost price + amount to be paid to broker = 15000

x + 0.02 x = 15000

1.02 x = 15000

x = 15000/1.02

x = 1500000/102

x = 14705.88

The cost of old scooter is 14705.88 rupees.

Amount paid to broker is 0.02( 14704.88) = 294.12 Rupees

By rounding to the nearest hundred CP ≈ 14,706 Rupees

Amount paid to broker ≈ 294 Rupees.

Hope it helps you.

Thanks for asking such a great question.

Keep studying.