Explore Westonci.ca, the top Q&A platform where your questions are answered by professionals and enthusiasts alike. Explore a wealth of knowledge from professionals across various disciplines on our comprehensive Q&A platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.
Sagot :
Given that the wholesale price(cost price) for a pair of shoes is $4.50. The markup percentage is given as 70%. We are asked to find the selling price. This can be seen below;
Explanation
We can use the formula for the mark-up percentage to find the selling price of the shoe in the department store. The formula is given as:
[tex]\text{\%Mark up}=\frac{selling\text{ price - cost price}}{\cos t\text{ price}}\times100[/tex]
Therefore we will have;
[tex]\begin{gathered} 70=\frac{sp-4.50}{s\mathrm{}p}\times100 \\ \frac{70}{100}=\frac{sp-4.50}{sp} \\ 0.7=\frac{sp-4.50}{sp} \\ 0.7s.p=sp-4.50 \\ s.p-0.7sp=4.50 \\ 0.3s.p=4.50 \\ s.p=\frac{4.50}{0.3} \\ s.p=15 \end{gathered}[/tex]Answer: The price of the pair of shoes in the department store will be 15 dollars
We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.
