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Word Problem on Premium?
Word Problem on Premium?
Christie's Auction sold a painting for $24,500. It charges all buyers a 15% premium of the final bid price. How much did the bidder pay Christie's Auction for this painting?
(I have an answer but would like verification- thx)
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- Anonymous9 years agoFavorite Answer
So the bidder paid the selling price + the premium:
24,500 + (0.15 x 24,500) = 24,500 + 3,657
Amount paid by bidder: $28,175
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