Question

Andre wants to buy a bike that has a price tag of $125. What was the wholesale cost of this bike?

Answer 1

The bike store marks up the wholesale cost of all of the bikes they sell by 30%. Andre wants to buy a bike that has a price tag of $125. What was the wholesale cost of this bike?

Answer:

$96.15

Step-by-step explanation:

Let x be the wholesale cost of the bike.

Given:

Price tag of a bike = $125.

The bike store marks up the wholesale cost of all of the bikes they sell by 30%.

So we can find the wholesale cost of the bike by the following way.

$\frac{100+30}{100}\times x = 125$

$\frac{130}{100}\times x = 125$

$x=\frac{125\times 100}{130}$

$x=\frac{12500}{130}$

$x=\frac{1250}{13}$

$x=96.15$

Therefore, the wholesale cost of the bike is $96.15.