Business Math

You are the manager of World Wide Athlete, a chain of six sporting goods shops in your area. The shops sell 12 racing bikes per week at a retail price of $679.99. Recently, you put the bikes on sale at $599.99. At the sale price, 15 bikes were sold during the one-week sale.

1. What was your markdown percent on the bikes?
2. What is the percent increase in number of bikes sold during the sale?

3. How much more revenue would be earned in six months by permanently selling the bikes at the lower price rather than having a one-week sale each month? (6 sale weeks in 26 weeks)

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  3. 👁 1,593
  1. #1 (679.99-599.99)/679.99 = 0.1176 or about 12%

    #2 (15-12)/12 = 25%

    #3 extra revenue during that week was
    15*599.99 - 12*679.99 = 839.97

    So, ...

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  2. # 3 (15*599.99)*26- ((12*679.99)*20 +(15*599.99)*6))=
    233,996.1- (163,197.6+53999.1)=
    233,996.1-217,196.7=16,799.4

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