Question

A) A local shoe store buys shoes at a wholesale price and then marks them up 80% to calculate the retail price. The wholesale price varies, depending on the quantity of shoes purchased. (2 points)

Quantity 0-20 pairs 21-40 pairs 41-60 pairs 61-80 pairs 81 or more pairs
Wholesale Price
(per pair) $25.00 each $23.00 each $21.00 each $19.00 each $17.00 each

Write an equation that could be used to find the retail price for each range. How do you know the equation will work consistently for each range?

Answer 1

Answer:In this question, the buying price will be lower if the quantity bought is higher. But the markup ratio for retail price is constant at 80% of buying price. If the price of the range is x, then the equation of retail price would be:

Retail price= x * (100%+80%)

Retail price= x * 180%=

Retail price= 1.8 x

The equation should be same because the markup ratio is same. Only the buying price that will be different based on the quantity of shoe purchased.

THANKS

129

Explanation:

Answer 2

In this question, the buying price will be lower if the quantity bought is higher. But the markup ratio for retail price is constant at 80% of buying price. If the price of the range is x, then the equation of retail price would be:
Retail price= x * (100%+80%)
Retail price= x * 180%=
Retail price= 1.8 x

The equation should be same because the markup ratio is same. Only the buying price that will be different based on the quantity of shoe purchased.