Question

Robert is selling his bulldozer at a heavy equipment auction. The auction company receives a commission of 5%of the selling price. If Robert owes $122,230 on the bulldozer, then what must the bulldozer sell for in order forhim to be able to pay it off?Select one:a.123,000b. 122,230C. 128,664d. 130,786

Answer 1

Explanation:

The auction company receives a commission of 5% of the selling price.

Let the sale price of the bulldozer = x

`\begin{gathered} \text{ Sale Price}=\text{ The amount Robert owes + Commision} \\ x=122,230+0.05x \end{gathered}`

The equation is then solved for x:

`\begin{gathered} x-0.05x=122230 \\ 0.95x=122230 \\ \text{ Divide both sides by 0.95} \\ (0.95x)/(0.95)=(122,230)/(0.95) \\ x=128663.20 \\ \text{ Round up} \\ x\approx128,664 \end{gathered}`

The bulldozer must sell for $128,664 n order for him to be able to pay off the a