An antique ceramic pitcher is being sold at an online auction.The minimum bid is $125.At the end of the auctuon,the pitcher is sold 288% above the minimum bid.what is the selling price of the pitcher.Show the work please
+128566 Notice that if it was sold for 100% more than the minimum bid, it would be sold for 2 times as much....thus......
100% = 1.00 + 1 = 2 times as much .....so.....
288% = 2.88 + 1 = 3.88 times as much
And we have
3.88($125) = $485
+128566 Think about this, Mathman :
If it sold for 100% above the minumum bid.....100% of $125 = $125
So......$125 plus 100% of $125 = $125 + $125 = 2* $125 = $250
Thus.... 100% above the minimum bid means that the price was doubled
And 200% more means 200% of $125 = $250
So $125 plus 200% of $125 = $125 + $250 = $375
Thus.....200% above the minimum bid = 3 times $125 = $375
So....by this logic.......288% = 3.88 times $125 = $485
