Question

Danny's Bike Shop sells a certain model of racing bike for $550. The same bike can be bought at a competing shop for 7 percent less. How much does the bike cost at Danny's competitor?

Answer 1

Answer:

$511.5

Step-by-step explanation:

Given: Selling price of bike at Danny´s shop is $550

           Bike is sold 7% less at competitor´s shop.

Lets find the discounted amount at Danny´s competitor shop.

∴ $\frac{7}{100} \times 550 = \ 38.5$

Now, finding the cost of bike at Danny´s competitor.

Cost of bike at Danny´competitor= $(\textrm{Price at dannys shop - discount provided by competitor})$

Cost of bike at Danny´s competitor= $550-38.5= \ 511.5$

∴ Cost of bike at Danny´s competitor is $511.5.