SOLUTION: John wants to sell his car through a broker who charges a commission of 10% of the selling price. John still owes $11,025 on the car. John must get enough to at least pay off th

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: John wants to sell his car through a broker who charges a commission of 10% of the selling price. John still owes $11,025 on the car. John must get enough to at least pay off th      Log On


   

Question 164829: John wants to sell his car through a broker
who charges a commission of 10% of the selling price.
John still owes $11,025 on the car. John must get
enough to at least pay off the loan. What is the range of the
selling price?
Answer by Mathtut(3670) About Me  (Show Source):
You can put this solution on YOUR website!
If S is the selling price needed to at least cover the loan and broker fee then we can write the equation in this way. S-.1(S)>=11025 solving for S we get .9S>=11025
S>=$12250 ... so John needs to sell this vehicle for at least $12250 in order to pay the broker fee and the loan on the car. Any thing above this price is his to keep.