Sanya sold her flat in Delhi at a profit of 60%. She had purchased the flat for ₹4 Lakhs. She had sold it through a broker and paid him a commission of 5% on the profit she made. How much commission did the broker get?

₹18000

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₹16000

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₹14000

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₹12000

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Solution

The correct option is D ₹12000
Cost Price of the Flat = ₹400000
Profit = 60% of ₹400000 = $\frac{60}{100} \times 400000$ = ₹240000
Commision paid to broker = 5% of ₹240000 = $\frac{5}{100} \times 240000$ = ₹12000

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