Math CentralQuandaries & Queries


Question from augustine:

knowing an auctioneer charges a 7% fee and I know I want $74,400 what is the formula to determine selling price.

Hi Augustine,

If the auctioneer get $7\%$ of the selling price then you get $100\% - 7\% = 93\%$ of the selling price. Hence if the selling price is $\$p$ then $0.93 \times \$p = \$74,400.$


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