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.
[tex]\frac{100+30}{100}\times x = 125[/tex]
[tex]\frac{130}{100}\times x = 125[/tex]
[tex]x=\frac{125\times 100}{130}[/tex]
[tex]x=\frac{12500}{130}[/tex]
[tex]x=\frac{1250}{13}[/tex]
[tex]x=96.15[/tex]
Therefore, the wholesale cost of the bike is $96.15.
