SOLUTION: A broker takes 2 percent as commission for the sale of property of value up to rs. 300000. If the sale price is more than this,the broker charges 1.5 percent for the remaining amou
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Question 1190561: A broker takes 2 percent as commission for the sale of property of value up to rs. 300000. If the sale price is more than this,the broker charges 1.5 percent for the remaining amount. If a property was sold for rs. 450000 what was the broker's commission ?
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
commission is 2% for 0 to 300,000.
commission is 1.5% for any amount greater than 300,000.
sale price is 450,000.
commission is 2% of 300,000 plus 1.5% of 150,000 = .02 * 300,0009 plus .015 * 150,000 = 8250.
the 150,000 is the amount over 300,000 which is equal to 450,000 - 300,000.
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