Question

a post on a classifieds website Craigslist advertised a mountain bike selling for $1,164 less than it's retail price. if this is a 40% savings, what is the retail price of the bike

Answer 1

From the information given 40% represents the savings and is 1, 164 dollars

Therefore 100% represents the full retail price.

We first find out what 1% represents.

40% = 1,164

1% = x (where x is the amount in dollars equivalent to 1%)

We then simplify the equation

x × 40% = 1,164 × 1%

40 x = 1,164

x = 1,164 / 40 → x = 29.1

So 1% is equivalent to 29.1 dollars. How about 100%?

100% will be 100 × 29.1 = 2,910

Therefore the full retail price is $ 2,910