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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badluck, gaurav

chitan got it correct.

u have calculated 15% of 155965 wrong.

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.

agent must sell the house at 186094

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)

178093.79rs.. is the selling price of the building