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

$511.5

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.

∴
`(7)/(100) * 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.