Question

Marissa's Fashions purchases designer boots from a manufacturer for $50.88 per pair. Marissa then adds a certain amount to the price of the boots as a markup when she sells them in the store. The total cost for a customer buying the boots at the store is $90.10. This includes a 6.25% sales tax that is added after the markup.

The percent of markup before tax is about ___________________
%, which is a markup of $___________
per pair of boots.

Answer 1

Markup of _66.67_ % or $ _33,92_ per pair of boots

Explanation:

In order to find the markup per pair of boots, we need to find the sales price BEFORE tax.

That can be done simply with a cross-multiplication (106.25 represents total price with 6.25% tax, and 100 represent amount of sales before tax)

`(90.10)/(106.25) = (x)/(100)`

if we isolate x we have x = (90.10 * 100) / 106.25 = $84.80

We can then easily calculate the markup amount, since the boots were sold $84.80 and Marissa paid $50.88, that means her markup amount is $33.92.

Now, let's calculate the markup percentage by see how much $33.92 represents compared to the initial price of $50.88:

$33.92 / $50.88 = 66.67%