Question

Mr. Perez owns a sneaker store. He bought 350 pairs of basketball sneakers and 150 pairs of soccer sneakers from the manufacturers for $62,500. He sold all the sneakers and made a 25% profit. If he sold the soccer sneakers for $130 per pair, how much did he charge for one pair of basketball sneakers?

Answer 1

Mr. Perez charges $167.5 for one pair of basketball sneakers

Explanation:

Hi

As Mr. Perez sold all the sneakers and made a 25% profit, this means that total income is
`\$ 62,500+25 \% =\$ 78,125`.

If he sold the soccer sneakers for $130 per pair and there were 150 pairs, this means that soccer sneakers income is
`150*\$ 130=\$ 19,500`

He sold the basketball sneakers for
`x` per pair and there were 350 pairs, this means that basketbal sneakers income is
`350x`

Using this info we can build an equation
`350x+\$ 19,500=\$ 78,125`, clearing it for
`x`, we have
`x=(\$ 78,125-\$19,500)/(350) =(\$335)/(2)=\$167.5`