Jerry and Jim are opposing participants in an online auction. Each has a constant bidding strategy: Jerry always bids up by raising $40 over any previous bid. Jim always bids up by doubling any previous bid. The auction begins with an initial bid by a third player, and progresses as follows: Jerry bids up first, and Jim follows. Jerry bids up again, and Jim follows and raises the bid to a final $600. What was the dollar value of the initial price?
Choose the correct choice from the following answers:
A) 90	B) 465	C) 656	D) 345	E) 35
Initial bid = p$   Jerry = p+40   Jim = 2p   The sequence is R---&gt; B ---&gt; R -----&gt; B ---&gt; 600   Thus per the sequence we have: p+40, 2(p+40), 2p+80+40 , 2(2p+120)   Now given, 2(2p+120) = 600----&gt; p =90$. Thus 90 is the correct answer.
<result>A</result>
Jerry and Jim are opposing participants in an online auction. Each has a constant bidding strategy: Jerry always bids up by raising $40 over any previous bid. Jim always bids up by doubling any previous bid. The auction begins with an initial bid by a third player, and progresses as follows: Jerry bids up first, and Jim follows. Jerry bids up again, and Jim follows and raises the bid to a final $600. What was the dollar value of the initial price?