Question

A shoe store by packs of socks wholesale for $5 each and marks up by $40. The store decides to discount the packs of the socks by 40%. Is the discounted price $5.

Answer 1

No

Explanation:

Price after the socks is marked up = $40 + $5 = $45

If the sock is discounted by 40%, the price of the socks would be 60% of the original price

0.6 x $45 = 27

The discounted price is $27