Samir and the Real Estate Agent

Samir purchased a house for Rs. 155965. He wants to sell it for a profit of exactly 15%. However, he does not want to sell it himself. He wants a Real Estate Agent to sell it for him. The Agent must make a commission of exactly 5.6% (in addition to Samir’s 15% profit). How much must the Agent sell the house for? Give your answer to the nearest Rs.?

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Vineet Patawari

Hi, I'm Vineet Patawari. I fell in love with numbers after being scared of them for quite some time. Now, I'm here to make you feel comfortable with numbers and help you get rid of Math Phobia!

5 thoughts to “Samir and the Real Estate Agent”

  1. for 15% profit on 155965
    S.P. = 155965 + 15% OF 155965 = 179374.75
    let S.P.= x
    Now after deducting 5.6% commision on x
    94.4% of x=179374.75
    On solving,
    x=190015.625 Ans.

  2. x = 155965 (purchase price)
    x1 = 15% profit ( x + (x* 0.15)) = 179359.75
    Agents commission 5.6% of sell price.
    Therefore, Selling price y = (y *0.056) + x1
    0.994 y = x1
    y = 189999.7352

    Selling value = 189999.7352
    Agent’s comission (5.6%) from sell value = 10639.98517
    Profit of 15% on purchase price (23394.75)

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