Final answer:
By solving a system of linear equations, the set fee for renting a bike is determined to be $6 and the hourly rate is $4.50. Hence, the cost to rent the bike for 3 hours is $19.50.
Step-by-step explanation:
The question involves creating linear equations based on the given information to find the cost of renting a bike for a certain number of hours. We are told that renting a bike for 4 hours costs $24 and renting for 7 hours costs $37.50. We can express this situation with two equations, where x represents the set fee and y represents the hourly rate:
- 4y + x = 24
- 7y + x = 37.5
We solve this system of equations to find the values of x and y. Subtracting the first equation from the second gives us 3y = 13.5, hence y = 13.5 / 3 = $4.50 per hour. We can then substitute y back into the first equation: 4(4.50) + x = 24, which simplifies to 18 + x = 24, hence x = $6.
To rent the bike for 3 hours, the cost would be 3(4.50) + 6 = $13.50 + $6 = $19.50.