Math, asked by mdsajid6266, 8 months ago

Insurance company X gives 15% commission on total premium received to his agent but if insurance company Y gives 10% commission after premium of Rs 12000 and a fixed salary 5000 to his agent, then  Company Y has to give Rs 800 more commission then company X. Find amount of premium, if premium received by both companies is same.​

Answers

Answered by amitnrw
0

Given :  Insurance company X gives 15% commission on total premium received to his agent but if insurance company Y gives 10% commission after premium of Rs 12000 and a fixed salary 5000 to his agent,

To find :   if Company Y has to give Rs 800 more  then company X then amount of premium

Solution:

Let say Premium Received  = 100P  Rs

Insurance company X gives 15% commission on total premium received to his agent

=> Commission Paid to agent  X = (15/100)100P  = 15P  Rs

insurance company Y gives 10% commission after premium of Rs 12000 and a fixed salary 5000 to his agent

=> Agent Y got  = 5000  +  ( 10/100)(100P - 12000)  

= 5000 + 10P  - 1200

= 3800 + 10P   Rs

Company Y has to give Rs 800 more  then company X.

3800 + 10P  = 15P  + 800

=> 5P  = 3000

=> P = 600

=> 100P  = 60000

amount of premium = Rs 60000

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