Question

The wholesale price for a pair of shoes is $6.50. A certain department store marks up the wholesale price by 70% . Find the price of the pair of shoes in the department store.

Round your answer to the nearest cent, as necessary.

Answer 1

$11.05

Explanation:

To increase 6.50 by 70%, we first have to find what 1% equals. We can do this by dividing 6.50 by 100.

6.50/100 = 0.065

1% of 6.50 is 0.065.

Now since the department store increased the price by 70%, we'll have to multiply 0.065 by 170% (6.5 = 100%)

0.065 x 170 = 11.05

The new price is $11.05.