Question

A real estate agent receives a commission of $1.5$% in selling a land for $Rs.1,60,000$. What is the commission amount?

Answer 1

Selling price of the land is $Rs.1,60,000$ and the commission rate is $1.5$%.
If the selling price is $Rs.100$, commission $=Rs.1.5$.
If the selling price is $Rs.1,60,000$, commission $=\frac{1.5}{100}\times 160000=Rs.2,400$.
Therefore commission amount is $Rs.2,400$.
The commission amount can also be calculated directly.
Commission $=$ commission rate $\times$ selling price
In the example above,
Commission $=1.5$% of $Rs.1,60,000=\frac{1.5}{100}\times 160000=Rs.2,400$.