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An acution house charges a commission of 15 percent on the

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An acution house charges a commission of 15 percent on the [#permalink] New post 25 Feb 2007, 12:01
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An acution house charges a commission of 15 percent on the first $50000 of the sale price, plus 10 percent on the amount of the sale price in excess of $50000. What was the sale price of a painting for which the auction house charged a total commission of $24000?[/list]
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 [#permalink] New post 25 Feb 2007, 13:33
I assume you made a mistake by not adding a zero to the total commision charged :)

x- is the sale price

75000+0.10(x-500000)=240000
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 [#permalink] New post 25 Feb 2007, 13:48
SimaQ wrote:
I assume you made a mistake by not adding a zero to the total commision charged :)

x- is the sale price

75000+0.10(x-500000)=240000



Not necessarily:

Total commission was $24,000

If the price of the painting was $215,000 we get $24,000 in commissions by:

15% of $50,000 = $7,500
10% of $165,000=$16,500
Total Price $215,000
Total Commission $24,000
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 [#permalink] New post 25 Feb 2007, 13:49
oh boy, read 500 000 not 50 000 :)

Yes my mistake, i should be sleeping right know :)
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 [#permalink] New post 25 Feb 2007, 13:52
SimaQ wrote:
oh boy, read 500 000 not 50 000 :)

Yes my mistake, i should be sleeping right know :)



Success!!! High Five :wink:
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 [#permalink] New post 25 Feb 2007, 13:55
MeloNyC wrote:
SimaQ wrote:
oh boy, read 500 000 not 50 000 :)

Yes my mistake, i should be sleeping right know :)



Success!!! High Five :wink:


i like :)

In my country they would go crazy about this one, not so much about that one :)
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 [#permalink] New post 25 Feb 2007, 14:10
SimaQ wrote:
MeloNyC wrote:
SimaQ wrote:
oh boy, read 500 000 not 50 000 :)

Yes my mistake, i should be sleeping right know :)



Success!!! High Five :wink:


i like :)

In my country they would go crazy about this one, not so much about that one :)


Yep, they would probably stone you or something. :(
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 [#permalink] New post 25 Feb 2007, 14:13
MeloNyC wrote:
SimaQ wrote:
MeloNyC wrote:
SimaQ wrote:
oh boy, read 500 000 not 50 000 :)

Yes my mistake, i should be sleeping right know :)



Success!!! High Five :wink:


i like :)

In my country they would go crazy about this one, not so much about that one :)


Yep, they would probably stone you or something. :(


I will be execute :)
  [#permalink] 25 Feb 2007, 14:13
    Similar topics Author Replies Last post
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Topics:
5 Experts publish their posts in the topic An auction house charges a commission of 15% on the first Smita04 5 28 May 2012, 18:37
1 If a brokerage firm charged a commission of 2% of the total enigma123 4 10 Jul 2011, 08:03
2 A salesperson received a commission of 3 percent of the sale xmagedo 3 30 Jul 2010, 06:45
A sales person gets a 15% commission on each sale he makes. puma 3 19 Apr 2008, 07:21
A broker charged an average commission of 12 percent on two sudhagar 4 06 Nov 2005, 12:19
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