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Beach Bicycles sells two-seater bicycles. Its markup rate is \( 68 \% \). Which equation represents the new price for a bicycle, \( y \). given an original price, \( x \) ? (A) \( y=0.32 x \) (B) \( y=x-0.32 \) (C) \( y=1.68 x \) (4) \( y=x+0.68 \)

Ask by Mills Patel. in the United States
Jan 24,2025

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Tutor-Verified Answer

Answer

The correct equation is \( y = 1.68x \).

Solution

To determine the new price \( y \) of a bicycle after applying a markup rate of \( 68\% \) to the original price \( x \), we can use the following approach: 1. **Understanding Markup**: - A markup of \( 68\% \) means that the selling price is \( 68\% \) higher than the original price. - Mathematically, this can be expressed as: \[ y = x + 0.68x \] - Simplifying the equation: \[ y = 1.68x \] 2. **Matching with the Options**: - **Option (A)**: \( y = 0.32x \) — This represents a \( 32\% \) markup, which is incorrect. - **Option (B)**: \( y = x - 0.32 \) — This incorrectly subtracts a fixed amount rather than applying a percentage. - **Option (C)**: \( y = 1.68x \) — This correctly represents a \( 68\% \) markup. - **Option (D)**: \( y = x + 0.68 \) — This adds a fixed amount of \( 0.68 \) instead of \( 68\% \). Therefore, the correct equation representing the new price with a \( 68\% \) markup is: **Answer:** (C) \( y = 1.68\,x \)

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Bonus Knowledge

To find the new price \( y \) of a bicycle with a markup rate of \( 68\% \), you need to start with the original price \( x \) and add \( 68\% \) of that price to it. This can be calculated as follows: \( y = x + 0.68x = 1.68x \). So the correct equation is \( y = 1.68x \). Additionally, understanding markup can be really helpful in various business scenarios. For instance, when setting prices for products, businesses need to consider not only the cost of production but also factors like competition and consumer demand. Calculating the right markup allows companies to remain profitable while still appealing to customers.

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