SOLUTION: mike sold a bike for $360.00 making a lost of 20%. what is his cost price

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Question 1106362: mike sold a bike for $360.00 making a lost of 20%. what is his cost price
Found 3 solutions by ikleyn, addingup, josgarithmetic:
Answer by ikleyn(52879)   (Show Source): You can put this solution on YOUR website!
.
The condition says that $360 is 20% less than the original price at which Mile bought the bike somewhen earlier.


So, your equation is 


(1-0.2)*x = 360,  or   0.8x = 360,


where x is the original price for Mike.  It implies that

x =  = 450.


Answer.  The cost orice of the bike was  $450.

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Answer by addingup(3677)   (Show Source): You can put this solution on YOUR website!
let his cost be x:
x - 0.20x = 360 solve on the left: 1x - 0.20x = 0.80x
0.80x = 360
x = 360/0.8 divide to get your answer
Answer by josgarithmetic(39630)   (Show Source): You can put this solution on YOUR website!
p, price mike paid











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