Question

A stadium asked for $760,000 for naming rights. During a bidding war for the stadium naming rights, one company bid 7% more than the amount requested, and a second company bid 2% more than what that company bid. How much did the second company bid

Answer 1

Answer:

$\ \ 829464$

Step-by-step explanation:

Bid of first company:

Bid is $7\%$ more

$7\%$ of $760000=\frac{7}{100}\times760000=53200$

Bid of first $=760000+53200=813200$

Bid of second company:

Bid of second is $2\%$ greater than that of first

$2\%$ of first bid $=\frac{2}{100}\times 813200=16264$

Hence Bid of second company $=813200+16264=829464$