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):
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.

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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    - Percentage word problems (Type 1 problems, Finding the Part)
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Answer by addingup(3677)   (Show Source):
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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):
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p, price mike paid