John paid $450 for a new mountain bicycle to sell in his shop. He wants to price it so that he can offer a 10% discount but stil
l make 30% of the price he paid for. At what price should the bike be marked $?
1 answer:
Answer:
$643.50
Step-by-step explanation:
Let i be the profit realized from the sale and d be the discount made on the sale:
#John's selling price can be calculated by first adding profit, i to $450, the d to the new price as:
![P_n=P_o(1+i)+d[P_o(1+i)]\\=450(1+0.3)+0.1[450(1+0.3)]\\\\\\=450\times 1.3+0.1(450\times1.3)\\\\=585+58.5\\\\=643.50](https://tex.z-dn.net/?f=P_n%3DP_o%281%2Bi%29%2Bd%5BP_o%281%2Bi%29%5D%5C%5C%3D450%281%2B0.3%29%2B0.1%5B450%281%2B0.3%29%5D%5C%5C%5C%5C%5C%5C%3D450%5Ctimes%201.3%2B0.1%28450%5Ctimes1.3%29%5C%5C%5C%5C%3D585%2B58.5%5C%5C%5C%5C%3D643.50)
Hence, John will resell the bike at $643.50
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