Answer:
$160
Step-by-step explanation:
The bicycle costs the owner of the store 100% of its price.
He then adds 45% of that amount to the cost of the bicycle to come up with the selling price. It is this increase of 45% that is called a 45% markup.
100% + 45% = 145%
The bicycle's selling price is 145% of what it cost the store owner.
Let the original cost be x.
145% of x = $232
1.45x = 232
x = 232/1.45
x = 160
Answer: $160
