Question

Robert is selling his bulldozer at a heavy equipment auction. The auction company receives a commission of 5%of the selling price. If Robert owes $122,230 on the bulldozer, then what must the bulldozer sell for in order forhim to be able to pay it off?Select one:a.123,000b. 122,230C. 128,664d. 130,786

Answer 1

Answer:

Explanation:

The auction company receives a commission of 5% of the selling price.

Let the sale price of the bulldozer = x

$\begin{gathered} \text{ Sale Price}=\text{ The amount Robert owes + Commision} \\ x=122,230+0.05x \end{gathered}$

The equation is then solved for x:

$\begin{gathered} x-0.05x=122230 \\ 0.95x=122230 \\ \text{ Divide both sides by 0.95} \\ \frac{0.95x}{0.95}=\frac{122,230}{0.95} \\ x=128663.20 \\ \text{ Round up} \\ x\approx128,664 \end{gathered}$

The bulldozer must sell for $128,664 n order for him to be able to pay off the a