Question

a store marks up the wholesale cost of all bikes by 30% . Andre wants to buy a bike that has a price tag of $196. What was the wholesale cost of te bike?

Answer 1

$150.77

Explanation:

The cost of the bike after a 30% markup is equal to $196. In order for this to happen we have to understand that to mark something up means 100% + 30% in this case. 100% represents the original price of the item and 30% is the markup. In decimals 100% is = 1 since 100÷100=1 and 30% is 30÷100=0.3, therefore to mark the original item "x" we have to multiply that number by 1.30 and so mathematically speaking:

`x(1.3)=196\\\\x=(196)/(1.3)\\\\x=150.77`

The wholesale price of the bike is $150.77