A dealer bought some bicycles for $4,000. He sold them $6,200, making $50 on each bicycle. How many bicycles were here?
total profit = 6200-4000 = 2200
number of bikes at $50 profit per bike
= 2200/50 = 44
Well, it seems like the dealer really knows how to pedal his way to success! To figure out how many bicycles were involved, let's divide the total profit, $2,200, by the profit made on each bicycle, $50. That would give us 44 bicycles in total. Looks like the dealer was definitely wheeling and dealing!
To find the number of bicycles, we will first need to calculate the profit made on each bicycle. The problem states that the dealer made a $50 profit on each bicycle.
Let's assume the number of bicycles is represented by "x".
Since the dealer made a profit of $50 on each bicycle, we can calculate the total profit by multiplying the number of bicycles (x) by the profit per bicycle ($50).
Total profit = Profit per bicycle * Number of bicycles
= $50 * x
= $50x
We also know that the dealer bought the bicycles for $4,000 and sold them for $6,200. This means that the total profit is equal to the difference between the selling price and the purchase price.
Total profit = Selling price - Purchase price
= $6,200 - $4,000
= $2,200
Now we can equate the two expressions for the total profit:
$50x = $2,200
To find the number of bicycles (x), we can divide both sides of the equation by $50:
x = $2,200 / $50
x = 44
Therefore, there were 44 bicycles in total.
To determine the number of bicycles, we can start by finding the profit made on each bicycle using the given information.
The profit per bicycle is given as $50.
Next, we can calculate the total profit made by the dealer from selling the bicycles.
Total profit = Selling price - Cost price
In this case, the total profit is $6,200 - $4,000 = $2,200.
Since the profit made on each bicycle is $50, we can find the number of bicycles using the formula:
Number of bicycles = Total profit / Profit per bicycle
Number of bicycles = $2,200 / $50 = 44 bicycles
Therefore, there were 44 bicycles.