Answer:
Stefan originally paid $120 for the bicycle and helmet.
He made $72 by selling them to Jin.
Step-by-step explanation:
Given that:
Selling price of bicycle = $176
Selling price of helmet = $16
Total price = 176+16 = $192
This is 160% of what Stefan paid originally.
Let,
x be the original amount paid by Stefan.
160% of x = 192
[tex]\frac{160}{100}x=192\\1.6x=192[/tex]
Dividing both sides by 1.6
[tex]\frac{1.6x}{1.6}=\frac{192}{1.6}\\x=120[/tex]
Original amount paid by Stefan = $120
Profit = 192 - 120 = $72
Hence
Stefan originally paid $120 for the bicycle and helmet.
He made $72 by selling them to Jin.
