Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Join our platform to connect with experts ready to provide detailed answers to your questions in various areas. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

Bike store owner marks up the wholesale cost of all of the bikes they sell by 25%. 1. The owner purchased a bike for $120 (wholesale price). How much will he sell it for in his store?

Sagot :

samuelonum1

Answer:

$150

Step-by-step explanation:

Given data

Mark up =25%

cost price= $120

Required

The selling price

Applying the following expression we can solve for the selling price

Mark up = selling -cost/cost *100

substitute

let the selling price be x

25= (x- 120)/120 *100

cross multiply

25*120= (x-120)*100

3000= 100x-12000

3000+12000=100x

15000= 100x

divide both sides by 100

x= 15000/100

x=150

Hence the selling price is $150

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.