PLEASE HELP: The markup on a bicycle is.45%. The bike sells for $232.00. Find the cost to the store owner.

$160

Step-by-step explanation:

The bicycle costs the owner of the store 100% of its price.

He then adds 45% of that amount to the cost of the bicycle to come up with the selling price. It is this increase of 45% that is called a 45% markup.

100% + 45% = 145%

The bicycle's selling price is 145% of what it cost the store owner.

Let the original cost be x.

145% of x = $232

1.45x = 232

x = 232/1.45

x = 160

$160