Problema Solution
Christine's auction sold a painting for $24,500. It charges all buyers a 15% premium of the final bid price. How much did the bidder pay Christine?
Answer provided by our tutors
$24,500 + 0.15*$24,500 = (1 + 0.15)*$24,500 = 1.15*$24,500 = $28,175
the bidder paid $18,175 to Christine.