Question

The bike store marks up the wholesale cost of all of the bikes they sell by 30%. Andre wants to buy a bike that has a retail price of $125. We need to find the wholesale (original) price of this bike. What percent of the wholesale (original) price is the retail price?

Answer 1

Answer:

• Wholesale Price = $96.15
• Retail price percentage = 130%

Step-by-step explanation:

Wholesale price was marked up by 30% and became $125.

Assume wholesale price is x. Expression will be;

125 = x + (30% * x)

125 = 1.3x

x = 125/1.3

x = $96.15

Retail price percentage = 125/96.15

= 1.30

= 130%