Question

A real estate agent receives Rs 50,000 as commission, which is 4% of the selling price. At what price does the agent sell the property?

Answer 1

Given, commission received = 50,000

Also, commission percentage = 4%

Need to find out the price of the property

Let the price of the property = Rs.y

⇒ Now, x% of n = x/100 x n

⇒ 4/100 x y = 50000

⇒ y = (50000 x 100)/4

⇒ Y = 50000 × 25 = Rs.1250000

Hence, the selling price of the property is Rs.1250000