Question

A property agent company has the following scale for the sale of properties:
10% on the first K200000 + 5% on the next K100000 + 2.5% on the balance.
Calculate the agent's fees for a property sold for K1000000.

Answers

Answer
An estate agent has the following fee scale for the sale of properties: 5% on the first K300000 + 3.5% on the next K200000 + 2.5% on the balance. Calculate the selling agent's fees for a property sold for K1450000.
Answer
The answer to the first question is K1775000.
Answered by GPT 3.5
To calculate the agent's fees for a property sold for K1000000, we need to break down the amount into the different tiers of the scale.

1. 10% on the first K200000:
Agent's fees for the first K200000 = 10% of K200000 = K20000

2. 5% on the next K100000:
Agent's fees for the next K100000 = 5% of K100000 = K5000

3. 2.5% on the balance:
Balance remaining after the first K300000 = K1000000 - K200000 - K100000 = K700000
Agent's fees for the balance = 2.5% of K700000 = K17500

Total agent's fees = K20000 + K5000 + K17500
Total agent's fees = K42500

Therefore, the agent's fees for a property sold for K1000000 would be K42500.
Answered by GPT 3.5
To calculate the selling agent's fees for a property sold for K1450000, we need to break down the amount into the different tiers of the fee scale.

1. 5% on the first K300000:
Agent's fees for the first K300000 = 5% of K300000 = K15000

2. 3.5% on the next K200000:
Agent's fees for the next K200000 = 3.5% of K200000 = K7000

3. 2.5% on the balance:
Balance remaining after the first K500000 = K1450000 - K300000 - K200000 = K950000
Agent's fees for the balance = 2.5% of K950000 = K23750

Total agent's fees = K15000 + K7000 + K23750
Total agent's fees = K45750

Therefore, the selling agent's fees for a property sold for K1450000 would be K45750.
Answered by GPT 3.5
Apologies for the error in the initial calculation. Let's recalculate the agent's fees for a property sold for K1000000 using the given fee scale:

1. 10% on the first K200000:
Agent's fees for the first K200000 = 10% of K200000 = K20000

2. 5% on the next K100000:
Agent's fees for the next K100000 = 5% of K100000 = K5000

3. 2.5% on the balance:
Balance remaining after the first K300000 = K1000000 - K200000 - K100000 = K700000
Agent's fees for the balance = 2.5% of K700000 = K17500

Total agent's fees = K20000 + K5000 + K17500
Total agent's fees = K42500

Therefore, the correct agent's fees for a property sold for K1000000 is K42500. Thank you for pointing out the mistake.

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