3 % commission on the sale of a property amount to ₹42660.what is the ...
Calculation of Total Value of Property:
To determine the total value of the property, we need to make use of the given information and solve the equation step by step.
Given:
Commission rate = 3%
Commission amount = ₹42,660
Step 1: Calculate the Commission Percentage
To find the commission percentage, we divide the commission amount by the total value of the property and multiply by 100.
Let the total value of the property be 'x'.
Commission Percentage = (Commission Amount / Total Value of Property) * 100
Step 2: Substitute Given Values
Now, we can substitute the given values into the equation:
3% = (₹42,660 / x) * 100
Step 3: Solve for Total Value of Property
To solve for 'x', we can rearrange the equation:
x = (₹42,660 / 3%) * 100
Step 4: Convert Percentage to Decimal
To perform the calculation, we need to convert the percentage into a decimal.
3% = 3/100 = 0.03
Step 5: Calculate Total Value of Property
Now, we can substitute the decimal value into the equation and solve for 'x':
x = (₹42,660 / 0.03) * 100
Step 6: Perform the Calculation
Using a calculator, we can perform the calculation:
x = ₹142,200,000
Answer:
The total value of the property is ₹142,200,000.
3 % commission on the sale of a property amount to ₹42660.what is the ...
Let the total value of the property = X rupees
% of commission on the sale of a property = 3%
According to question,
X * 3% = 42660
X = 42660 ÷ 3%
X = 42660 ÷ (3/100)
X = 42660 * (100/3)
X = (42660/3) * 100
X = 14220 * 100
X = 1422000
Total value of the property is Rupees 14,22,000
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