Question

Item 12 You win an online auction for a toy. Your winning bid of $52 is 65% of your maximum bid. How much more were you willing to pay for the toy than you actually paid?

Answer 1

$28

Explanation:

Given that:

Value of Winning bid = $52

Winning bid 65% of the maximum bid.

To find:

How much more is the maximum bid from the winning bid ?

Solution:

We are given that the winning bid is 65% of the maximum bid.

Using this percentage value, we need to first find the value of maximum bid and then we need to subtract the value of winning bid from the maximum bid to find the answer.

Let the value of maximum bid = $
`x`

As per question statement:

`65%\ of\ x = 52\\\Rightarrow (65)/(100) * x =52\\\Rightarrow 5x = 400\\\Rightarrow x = (400)/(5)\\\Rightarrow x =\$80`

Therefore, maximum bid = $80

Our answer is:

$80 - $52 = $28