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 Math Central Quandaries & 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 $0.93 \times \$p = \$74,400.$

Penny

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