Question

The shoe Store marks up the wholesale cost of all the shoes they sell by 35%. Andrea wants to buy shoes that has a price tag of $120. What was the wholesale cost of the shoe

Answer 1

To find the wholesale cost of the shoe, we need to determine the original cost before the 35% markup. We can set up an equation and solve for the wholesale cost using algebraic steps. The wholesale cost of the shoe Andrea wants to buy is approximately $88.89,

Step-by-step explanation:

To find the wholesale cost of the shoe, we need to determine the original cost before the 35% markup. Let's call the wholesale cost 'x'.

Since the store marks up the wholesale cost by 35%, the selling price becomes 100% + 35% = 135% of the wholesale cost. We can write this as:

x + (35/100)x = $120

Simplifying the equation, we have:

1.35x = $120

Dividing both sides by 1.35, we find:

x = $120 / 1.35 = $88.89

Therefore, the wholesale cost of the shoe is $88.89