Start by calculating the dollar amount of the markup by using the percent equation.
$ 334.80
Practice makes perfect
We want to find the total cost of the bicycle. Let's start by calculating the dollar amount of the markup. We can do this by using the percent equation.
part = percent * whole
We are given that the bicycle costs $ 270 plus 24 % markup. Let m represent the dollar amount of the markup.
m = 24 % * $ 270Before solving the equation we got, we need to write the percent as a decimal. We can do this by ignoring the percent symbol and moving the decimal point two places to the left.
We got that 24 % is equal to 0.24.
m = 24 % * $ 270 [0.3em] ⇓ [0.3em]
m = 0.24 * $ 270
Finally, we will solve the equation for m. For simplicity, we will omit the dollar symbol.
We found that m= 64.8 is a solution to the equation. This means that the dollar amount of the markup is $ 64.80. Now we can calculate the total cost of the bicycle, which is the regular price of the bicycle plus the markup.
Total cost ≈ $ 270 + $ 64.80 = $ 334.80
The total cost of the bicycle is $ 334.80.
