Question

You win an online auction for a toy. Your winning bid of $30 is 60% of your maximum bid. How much more were you willing to pay for the toy than you actually paid?​

Answer 1

I was willing to pay $20 more for the toy than I actually paid.

Explanation:

Let us take the maximum bid be y

So,

(y × 60) ÷ 100 = 30

60y/100 = 30

60y/100 × 100 = 30 × 100

60y = 3000

60y/60 = 3000/60

y = 50

60% of $50 is $30

So,

50 - 30 = 20

Thus, I was willing to pay $20 more for the toy than I actually paid.