Question

A shoe store uses a 115% markup on cost. If they sell a pair of shoes for $85.49, how much did the shoes cost before the markup?

Answer 1

Given:

A shoe store uses a 115% markup on cost.

Selling price of pair of shoes = $85.49

To find:

The cost of shoes before markup.

Solution:

Let x be the cost of shoes before markup.

A shoe store uses a 115% markup on cost.

So, the selling price of the shoes is

`S.P.=x+(115)/(100)x`

`S.P.=x+1.15x`

`S.P.=2.15x`

Selling price of pair of shoes is $85.49.

`2.15x=85.49`

`x=(85.49)/(2.15)`

`x=39.76279`

`x\approx 39.76`

Therefore, the cost of shoes before markup is $39.76.