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22Sep/095

Samir and the Real Estate Agent

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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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  1. badluck, gaurav

    chitan got it correct.
    u have calculated 15% of 155965 wrong.

  2. 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.

  3. agent must sell the house at 186094

  4. 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)

  5. 178093.79rs.. is the selling price of the building


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