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Mohit sold his house through real estate agent to whom he paid commission of 7% of sale price. If the sale price of the was rupees 90,50,000, how much commission did mohit pay
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Calculation of Commission Paid by Mohit
Mohit sold his house through a real estate agent and he paid a commission of 7% of the sale price. The sale price of the house was rupees 90,50,000. To calculate the commission paid by Mohit, we need to follow these steps:
Step 1: Calculate the commission percentage
- The commission percentage is given as 7%.
- We need to convert this percentage into a decimal form by dividing it by 100.
- Commission percentage = 7/100 = 0.07
Step 2: Calculate the commission amount
- To calculate the commission amount, we need to multiply the sale price of the house by the commission percentage.
- Commission amount = Sale price * Commission percentage
- Commission amount = 90,50,000 * 0.07
Step 3: Calculate the commission paid by Mohit
- The commission paid by Mohit is equal to the commission amount calculated in step 2.
- Commission paid by Mohit = Commission amount
Final Calculation:
- Commission amount = 90,50,000 * 0.07
- Commission amount = 6,35,350
Therefore, Mohit paid a commission of rupees 6,35,350 to the real estate agent for selling his house.
Explanation:
Mohit sold his house through a real estate agent, who helped in finding a buyer and completing the sale transaction. As per their agreement, Mohit agreed to pay a commission of 7% of the sale price to the real estate agent. The sale price of the house was rupees 90,50,000.
To calculate the commission paid by Mohit, we first convert the commission percentage into a decimal form by dividing it by 100. In this case, the commission percentage is 7%, so it becomes 0.07.
Next, we calculate the commission amount by multiplying the sale price of the house by the commission percentage. By multiplying 90,50,000 by 0.07, we get the commission amount of 6,35,350.
Therefore, Mohit paid a commission of rupees 6,35,350 to the real estate agent for their services in selling his house. This commission amount is a percentage of the sale price and compensates the agent for their efforts and expertise in finding a buyer and facilitating the sale process.
Mohit sold his house through a real estate agent and he paid a commission of 7% of the sale price. The sale price of the house was rupees 90,50,000. To calculate the commission paid by Mohit, we need to follow these steps:
Step 1: Calculate the commission percentage
- The commission percentage is given as 7%.
- We need to convert this percentage into a decimal form by dividing it by 100.
- Commission percentage = 7/100 = 0.07
Step 2: Calculate the commission amount
- To calculate the commission amount, we need to multiply the sale price of the house by the commission percentage.
- Commission amount = Sale price * Commission percentage
- Commission amount = 90,50,000 * 0.07
Step 3: Calculate the commission paid by Mohit
- The commission paid by Mohit is equal to the commission amount calculated in step 2.
- Commission paid by Mohit = Commission amount
Final Calculation:
- Commission amount = 90,50,000 * 0.07
- Commission amount = 6,35,350
Therefore, Mohit paid a commission of rupees 6,35,350 to the real estate agent for selling his house.
Explanation:
Mohit sold his house through a real estate agent, who helped in finding a buyer and completing the sale transaction. As per their agreement, Mohit agreed to pay a commission of 7% of the sale price to the real estate agent. The sale price of the house was rupees 90,50,000.
To calculate the commission paid by Mohit, we first convert the commission percentage into a decimal form by dividing it by 100. In this case, the commission percentage is 7%, so it becomes 0.07.
Next, we calculate the commission amount by multiplying the sale price of the house by the commission percentage. By multiplying 90,50,000 by 0.07, we get the commission amount of 6,35,350.
Therefore, Mohit paid a commission of rupees 6,35,350 to the real estate agent for their services in selling his house. This commission amount is a percentage of the sale price and compensates the agent for their efforts and expertise in finding a buyer and facilitating the sale process.
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Mohit sold his house through real estate agent to whom he paid commission of 7% of sale price. If the sale price of the was rupees 90,50,000, how much commission did mohit pay
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Mohit sold his house through real estate agent to whom he paid commission of 7% of sale price. If the sale price of the was rupees 90,50,000, how much commission did mohit pay for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Mohit sold his house through real estate agent to whom he paid commission of 7% of sale price. If the sale price of the was rupees 90,50,000, how much commission did mohit pay covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mohit sold his house through real estate agent to whom he paid commission of 7% of sale price. If the sale price of the was rupees 90,50,000, how much commission did mohit pay.
Mohit sold his house through real estate agent to whom he paid commission of 7% of sale price. If the sale price of the was rupees 90,50,000, how much commission did mohit pay for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Mohit sold his house through real estate agent to whom he paid commission of 7% of sale price. If the sale price of the was rupees 90,50,000, how much commission did mohit pay covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mohit sold his house through real estate agent to whom he paid commission of 7% of sale price. If the sale price of the was rupees 90,50,000, how much commission did mohit pay.
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