##### Jane bought a bicycle and sold it for 30% more than she paid for it.

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Jane bought a bicycle and sold it for 30% more than she paid for it. She sold it for \$104. How much did she pay for it?

I'm reviewing for an exam I'm taking this evening and I'm not sure how to do this one.

Aug 6th, 2015

Thank you for the opportunity to help you with your question!

Let the buying price be x.

selling price was 30% more than buying price = 130% x

130%x=\$104

x=104 /130%

x= 104*100/130 = \$ 80

buying price is therefore \$ 80

Please let me know if you need any clarification. I'm always happy to answer your questions.
Aug 6th, 2015

Thank you for answering my question. I do have another question about this problem. Why does 30% turn into 130%?

Aug 6th, 2015

This is because selling price =b.p + 30% bp

s.p =100% b.p +30% b.p

=130% b.p

Aug 6th, 2015

alternatively you can use the formulas

profit =s.p -b.p

% profit =((s.p -b.p)/b.p) * 100%

30 % = ((104 -b.p)/b.p))*100%

0.3 = (104 -b.p)/b.p)

0.3 b.p. =104- b.p.

1.3 b.p. =104

b.p = 104/1.3 = 80

Aug 6th, 2015

Thank you!

Aug 6th, 2015

welcome. You can ask me questions directly via www.studypool.com?aid=mickeygabz

Aug 6th, 2015

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Aug 6th, 2015
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Aug 6th, 2015
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