Question

The bike at the store was selling for $320. Since the bike was in high demand, the owner decided to increase the price by 18%. What is the new cost of the bike?

Answer 1

New cost of the bike after the price increase is $377.60.

Explanation:

To determine the new cost of the bike after the price increase, we need to first calculate the amount of the price increase. To do this, we can multiply the original price of the bike by the percentage increase: $320 * 18% = $57.60.

Next, we can add the amount of the price increase to the original price of the bike to find the new price: $320 + $57.60 = $377.60.

Therefore, the new cost of the bike after the price increase is $377.60.