Hermina Ferry
Feb 13, 2025
How do I determine the value of the remaining equipment?
In a 3-day public auction of Jackson County's surplus equipment, the first day generated $5,750 in sales, and the second day brought in $4,186. With 28% of the original equipment still available for sale on the third day, how can we determine the value of the remaining equipment?
2 Answers
Feb 13, 2025
This is a fairly simple equation:
Value of goods sold on the first day: $5,750
Value of goods sold on the second day: $4,186
For a total value of $9,936 sold on the first two days.
We know that this represents 72% of the total value (since 28% remains, and 28 from 100 leaves 72).
We then divide by 72 and multiply by 100 to get the total value of all of the stock, which is $13,800.
The value of the remaining equipment is the total value of $13,800 less $9,936, which equals $3,864. ... Show More
Feb 13, 2025
Altogether, $5750 + $4186 = $9936 worth was sold. Since 28% is left, it means that $9936 equals 72% of the equipment.
We need to find the total worth of the equipment, which represents 100%. Thus, $9936 / 72 * 100 = $13800.
28% of $13800 is $13800 * 0.28 = $3864.... Show More
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