Question

3% commission on the sale of a property amounts to Rs 42660. What is the total value of the property?

Answer 1

Let the total value of the property be Rs x.
Percentage of commission = 3
Amount of commission = Rs 42660
Thus, 3% of Rs x = Rs 42660
⇒ $\left(\frac{3}{100}\times x\right)$ = 42660
∴ x = $\left(\frac{42660\times 100}{3}\right)=1422000$
Hence, the total value of the property is Rs 14,22,000.