## A dealer paid \$10,000 for a boat at an auction. At the dealership, a sales person sold the boat for 30% more than the auction price the sale

Question

A dealer paid \$10,000 for a boat at an auction. At the dealership, a sales person sold the boat for 30% more than the auction price the sales person received a commission of 25% of the difference between the auction price and the dealer price. What was the sales person’s commission?

in progress 0
1 hour 2021-09-15T23:55:12+00:00 1 Answer 0

Step-by-step explanation:

Let x represent the auction price

At the dealership, a sales person sold the boat for 30% more than the auction price. It means that the amount for which he sold the boat is

x + (30/100 × x)

= x + 0.3x = 1.3x

If the dealer paid \$10,000 for a boat at an auction, it means that

1.3x = 10000

x = 10000/1.3

x = 7692.31

The difference between the auction price and the dealer price is

10000 – 7692.31 =\$2307.69

The sales person received a commission of 25% of the difference between the auction price and the dealer price. It means that the commission received by the salesperson is

25/100 × 2307.69 = \$576.9225