A buyer paid $55 comma 68055,680, including the buyer's premium, for a car auction. If the auction adds a 1616% buyer's pre
1 answer:
Answer:
The sale price of the car is $48000.
Step-by-step explanation:
i) let the sale price of the car be = $x
ii) the premium is given as 16%
therefore the premium of the car will be equal to = 16% of $x
the premium of the car will be = $0.16x
iii) therefore total price of car in terms of sale price x = $x + $0.16x
therefore total price = $1.16x
iv) total price is given as $55,680
Therefore $55,680 = $1.16x, therefore $x = .
Therefore the sale price of the car is $48000.
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