Dylan's Bicycle Shop offers a new bicycle on sale for $259.92 after a 10% markdown. What was the cost of the bicycle to Dylan if the markup was 30% based on the cost? (Round to the nearest cent.)
259.92 * 1.1 = 285.91 original price
285.91 * 0.7 = _______ cost to Dylan
200.14
To find the cost of the bicycle to Dylan, we need to reverse the effect of the 10% markdown and the 30% markup.
Let's start by finding the original price of the bicycle after the 10% markdown.
To do this, we'll divide the sale price by (1 - 10%):
Original Price = Sale Price / (1 - 10%)
Original Price = $259.92 / (1 - 0.10)
Original Price = $259.92 / 0.90
Original Price ≈ $288.80
Now that we have the original price, we can calculate the cost of the bicycle to Dylan by reversing the 30% markup.
To do this, we'll divide the original price by (1 + 30%):
Cost to Dylan = Original Price / (1 + 30%)
Cost to Dylan = $288.80 / (1 + 0.30)
Cost to Dylan = $288.80 / 1.30
Cost to Dylan ≈ $222.15
Therefore, the cost of the bicycle to Dylan, based on the given information, was approximately $222.15.