Rs.15 less than the marked price, receiving a commission of 15% on the selling price, If both A and B receive the same amount in commission, then what is the marked price of the object?
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Answer:
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The complete question is given as follows:
Salesperson A sells an object at a price rs.5 less than marked price,receiving a commission of 5% on the selling price. The same object is sold by person B at a price rs 15 less than marked price,receiving a commission of 15% on the selling price. If both A and B receive the same amount in commission then what is the marked price of the object ?
Given:
1) Salesperson A sells an object at a price rs.5 less than marked price.
2) He receives a commission of 5% on the selling price.
3) Person B sells the same item at a price rs 15 less than marked price.
4) He receives a commission of 15% on the selling price.
5) A and B receive the same amount in commission.
To find:
1) The Marked Price of the object.
Solution:
Let the Marked Price (MP) be Rs x.
Given that,
A sells the object at a price Rs 5 less than marked price .
∴ SP = MP - 5, where SP is the Selling Price of the object.
Again, he receives 5% commission on the SP.
So, Commission is equal to
5% of SP
= 5% of (MP - 5)
= 5 (x - 5)/100
Similarly, B sells an object at a price Rs 15 less than marked price .
∴ SP = (MP - 15)
Given, he gets, 15 % Commission on selling price
So, amount of commission he gets equals to
15% of SP
= 15% (MP - 15)
= 15 (x - 15)/100
Given that, these two values of commission are the same.
So,
5 (x - 5)/100 = 15 (x - 15)/100
⇒ (x - 5) = 3(x - 15)
⇒ x - 5 = 3x - 45
⇒ 2x = 40
⇒ x = 40/2 = 20
So, the Marked Price (MP) of the object is Rs 20.