During COVID-19 Global lock down, there is  short supply of cycles in the market in the month of April 2020. Al Maha Cycle store raises the price of a cycle by 5% above the list price and charges a VAT of 10 % on the increased price. A customer has to pay RO 2650 for the cycle (including VAT).   Find out the list price of the cycle.             Due to short supply of cycles, cycle store increased the cycle price. Critically discuss

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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During COVID-19 Global lock down, there is  short supply of cycles in the market in the month of April 2020. Al Maha Cycle store raises the price of a cycle by 5% above the list price and charges a VAT of 10 % on the increased price. A customer has to pay RO 2650 for the cycle (including VAT).  

  1. Find out the list price of the cycle.            
  2. Due to short supply of cycles, cycle store increased the cycle price. Critically discuss
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