Question

A bike shop sells you a bicycle for $63 and a helmet for $21. The total cost is 150% of what the shop spent originally. How much did the shop spend originally? How much profit did the bike shop earn by selling the bicycle and helmet to you ?

Answer 1

The bike shop made $28 dollars profit. First, you add the cost of the bike and the cost of the helmet, which is $84. Then you divide that by 150 to get what 1% would be, which is .56. Then you multiply that by 50%, which is the part of the price that the shop profited, which is $28.