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# An acution house charges a commission of 15 percent on the

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Intern
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An acution house charges a commission of 15 percent on the [#permalink]

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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] Director Joined: 05 Feb 2006 Posts: 898 Followers: 3 Kudos [?]: 107 [0], given: 0 ### Show Tags 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 Intern Joined: 16 Feb 2007 Posts: 8 Followers: 0 Kudos [?]: 0 [0], given: 0 ### Show Tags 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
Director
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25 Feb 2007, 13:49
oh boy, read 500 000 not 50 000

Yes my mistake, i should be sleeping right know
Intern
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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
Director
Joined: 05 Feb 2006
Posts: 898
Followers: 3

Kudos [?]: 107 [0], given: 0

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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

i like

Intern
Joined: 16 Feb 2007
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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

i like

Yep, they would probably stone you or something.
Director
Joined: 05 Feb 2006
Posts: 898
Followers: 3

Kudos [?]: 107 [0], given: 0

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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

i like

Yep, they would probably stone you or something.

I will be execute
25 Feb 2007, 14:13
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