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A car salesman receives $50 for each car sale plus 2% of the purchase price. How much must a car sell for in order for the salesperson to earn at least $500?

Verified Answer :

SebRydahl

We simply take the amount he needs no earn ($500) subtract what he gets for each sale ($50) and divide with the percentage he gets (2% = 0.02)

500-50 = 450
450/0.02 = 22500

The salesperson has to sell a car for $22500 in order to earn $500 himself

Answer:

Car must be sell for sales price of at least of $22,500.

Step-by-step explanation:

Given :Salesman receives $50 for each car sale plus 2% of the purchase price. That can mathematically be represented as:

\(\$50+2\%\text{Sales price of the car}=T\)

Money received by the salesperson =T

Let the sale price of the car be P

\(\$50+2\%\text{Sales price of the car}\geq \$500\)

\(\$50+\frac{2}{100}\times P=\$500\)

\(P=\$22,500\)

P ≥ $22,500

Car must be sell for sales price of at least of $22,500.

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