cameronmcnutt
contestada

The store bought the bike at a wholesale price. The bike store marked up the wholesale cost of the bike by 60%. What was the wholesale cost of the bike if the store sold the bike to Andre for $160?

Respuesta :

JeanaShupp

Answer: The wholesale cost of the bike = $100

Step-by-step explanation:

Let x = wholesale cost of the bike

As per given,

Selling price = cost price + (Mark up percent) x ( cost price)  (i)

Selling price of bike = $160

Mark up percent = 60% =0.60

Substitute values in (i) , we get

[tex]160= x+0.6x\\\\\Rightarrow\ 160=1.6x\\\\\Rightarrow\ x=\dfrac{160}{1.6}\\\\\Rightarrow\ x= 100[/tex]

Hence, the wholesale cost of the bike = $100

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