Question

Three percent commission on the sale of a property amounts to $Rs.4740$. What is the total value of the property?

Answer 1

Hint: First, we need to know about the concepts of the percentage, so that we are able to solve the given problem easily. The percentage is the mathematical concept which is to measure the proportion of the given values in any term of the original value. The percentage is a relative value that indicates the hundredth parts of any quantity.
Like $70\% $ of $40$ is $28$. This can be obtained by $40 \times \dfrac{{70}}{{100}} = 28$ where $70$ represents the percent, $40$ is the base and $28$ is the part.
Formula used: To find the unknown value percent of the given $3\% $ commission which gives us the answer of $Rs.4740$ can be calculated using $\dfrac{{3 \times x}}{{100}} = 4740$ where $x$ is the unknown percentage

Complete step by step answer:
Since from the given the percentage of the commission is given as $3\% $ on the sale of a property amounts to $Rs.4740$. and then we have to find the unknown property amount
Which can be represented mathematically as $x$ (unknown) of $3\% $ is $Rs.4740$
Using the percentage concept which can be expressed as $\dfrac{{3 \times x}}{{100}} = 4740$ where $x$ is the unknown property, since given that the commission sale amount and the percentage also
Hence further solving we have $\dfrac{{3 \times x}}{{100}} = 4740 $
$\Rightarrow 3 \times x = 474000$ by the division operation.
Again, by the division we have, $x = \dfrac{{474000}}{3}$ and hence we get $x = Rs.158000$
Therefore, the total value of the property is $Rs.158000$

Note:
Note that the required answer is the unknown property like $Rs.158000$ and the percept is given as $3\% $ of the commission amount is $Rs.4740$ . Using the commission rupees and the percentage of the commission only we obtained the result of the original amount.
The division is the inverse process of the multiplication which has a dividend and a divisor. Also, we get the remainder while dividing the given two numbers, which is the answer (reminder)