The shops sell 13 racing bikes per week at a retail price of $657.53. Recently, you put the bikes on sale at $574.92. At the sale price, 17 bikes were sold during the one-week sale. What was your markdown percent on the bikes? What is the percent increase in number of bikes sold during the sale? How much more revenue would be earned in six months by permanently selling the bikes at the lower price rather than having a one-week sale each month? (6 sale weeks in 26 weeks)
The shops sell 13 racing bikes per week at a retail price of $657.53. Recently, you put the bikes on sale at $574.92. At the sale price, 17 bikes were sold during the one-week sale. What was your markdown percent on the bikes? What is the percent increase in number of bikes sold during the sale? How much more revenue would be earned in six months by permanently selling the bikes at the lower price rather than having a one-week sale each month? (6 sale weeks in 26 weeks)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The shops sell 13 racing bikes per week at a retail price of $657.53. Recently, you put the bikes on sale at $574.92. At the sale price, 17 bikes were sold during the one-week sale.
What was your markdown percent on the bikes?
What is the percent increase in number of bikes sold during the sale?
How much more revenue would be earned in six months by permanently selling the bikes at the lower price rather than having a one-week sale each month? (6 sale weeks in 26 weeks)
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