Answer:
C. $215,000
Explanation:
The statement indicates that on the first $50,000 the auction house charges 15%, which means that for the first $50,000 the house charged:
$50,000*0,15%= $7,500
From the total commission of $24,000, $7,500 were for the first $50,000.
$24,000-$7,500= $16,500
Now, you have to determine the amount in excess of $50,000 from which the house charged the remaining $16,500. So, you have that an x amount multiplied for 10% or 0,10 is equal to $16,500:
x*0,10= 16,500
x= 16,500/0,10= 165,000
You have determined that the house charged $7,500 on the first $50,000 and $16,500 on $165,000 which means that the price of the painting is:
$50,000+$165,000= $215,000
