Question

On selling a piece of land at 6,20,000 a broker earned $3\%$ from the seller and 1 % from the buyer? What is the amount made by the broker?
(a) 26,000
(b) 24,000
(c) 24,800
(d) 30,000

Answer 1

Hint: To solve this question, we will add both the percentage given by the broker and earned by the seller. After adding $1\%$ and $3\%$, we will get the total percentage earned by the broker, and finally, we will calculate $1\% + 3\% = 4\%$ of the SP to get the result.

Complete step-by-step solution
We are given that the selling price of land is Rs. 6,20,000.
\[\Rightarrow SP=6,20,000\]
We are given that the broker earned 3% from the seller, i.e. selling gives 3% brokerage.
And given that the broker earns 1 % from the buyer, i.e. buying gives 1% brokerage.
Therefore, the total earned by the broker from the seller and the buyer is given by adding both the percentages of the earning from the seller and earning from the buyer.
\[\Rightarrow \text{Total earned by broker}\left( \text{in percent} \right)=1+3=4\text{ Percent}\]
Therefore, the total brokerage = $4\%$
The amount the broker earned is $4\%$ of 6,20,000. Therefore, $4\%$ of 6,20,000 is given by
\[\text{The amount the broker earned}=\dfrac{4}{100}\times 6,20,000\]
\[\Rightarrow \text{The amount the broker earned}=\dfrac{4}{1}\times 6,200\]
\[\Rightarrow \text{The amount the broker earned}=24800\]
Therefore, the amount made by the broker is 24800. Hence, option (c) is the right answer.

Note: Another method to solve this question can be calculating the amount 3% of 6,20,000 and 1% of 6,20,000 separately and then adding to get the final amount that the broker earned. The answer would be anyways the same.
\[1\text{ Percent of 6,20,000}=\dfrac{1}{100}\times 6,20,000=6200\]
\[\text{3 Percent of 6,20,000}=\dfrac{3}{100}\times 6,20,000=18600\]
\[\Rightarrow \text{Total}=6200+18600=24800\]