Question

By selling a piece of land for Rs 25,00,000, a real estate agent receives 1 % commission
on the first 10 lakh and 0.5 % commission on the remaining amount of selling price.
How much money does the owner of the land receive?​

Answer 1

Price of the land = rupees 25,00,000

We know that, 25,00,000 = 10,00,000+10,00,000+5,00,000

Commission received on the land= 1%of 10,00,000+ 0.5%of 10,00,000+ 0.5%of 5,00,000

=>  1/100 * 10,00,000+ 0.5/100* 10,00,000+ 0.5/100of 5,00,000

=> rupees 10,000+ rupees 5000+ rupees 2500

= rupees 17500

so the land owner earns rupees 17500 for selling the plot.