The net price that a retailer pays for a bike that it stocks in its store after receiving successive trade discounts of $15 \%$ and $25 \%$ is $\$ 111.56$. What is the list price of the bike, that is, the price at which the retailer sells the bike to its customers?
\[
\text { Answer }=\$ \square \text { (rounded to the nearest cent) }
\]
Answer
Final Answer: The list price of the bike is \(\boxed{175.00}\).
Step 1 ：The net price that the retailer pays for the bike is $111.56.
Step 2 ：The price after the first discount of 15% is calculated by dividing the net price by 0.85, which gives $131.25 (rounded to the nearest cent).
Step 3 ：The list price, which is the price before the second discount of 25%, is calculated by dividing the price after the first discount by 0.75, which gives $175.00.
Step 4 ：Final Answer: The list price of the bike is \(\boxed{175.00}\).
