Question

A new Concept XI bicycle cost a bike shop $800. The shop set the original list price of the bicycle at a price greater than $800. During the shop’s 30th anniversary sale, every list price in the store was marked down 30%. The shop sold this bicycle during its anniversary sale. Given that the shop made a 40% profit on the sale of this bicycle, what was the bicycle’s original list price?

Answer 1

Based on the fact that the shop still made a 40% profit on the concept xi bicycle, the original listing price must have been $1,600.

what price was the bicycle originally listed at?

assuming the list price is x, the formula would be:

800 x 1.40 = (x × 0.7)

solving gives:

1,120 = 0.7x

x = 1,120 / 0.7

= $1,600

find out more on discounted prices at https://brainly.com/question/7459025.

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