214k views
11 votes
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.

1 Answer

5 votes

Answer: $76

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

User Nagendra Rao
by
6.2k points