HyperT4693 HyperT4693
  • 25-01-2021
  • Mathematics
contestada

A shoe store has a markup rate of % and is selling a pair of shoes for $. Find the price the store paid for the shoes.

Respuesta :

Parrain
Parrain Parrain
  • 26-01-2021

Answer: $76

Step-by-step explanation:

Stores buy goods from others and sell it at a higher price to make profit. The difference between the price they bought it for and the one they will sell is the markup.

The markup percentage represents that markup in terms of the original cost.

If the price now is 75% higher than the original price, assume the original price to be x.

Expression is:

x + (x * 75%) = 133

x + 0.75x = 133

1.75x = 133

x = 133/1.75

x = $76

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