Question

A store pays $50 for a pair of shoes. The markup is 25%. What is the total cost for a person to buy the shoes including a 6% sales tax?P.s. please give me an explanation this is for notes

Answer 1

First, we find the 25% increase of the initial cost

initial cost = 50$

percentage increase = 25%

= 50 * 25/100

= 50 * 0.25

= 12.5

lets add it to the initial price

= 50 + 12.5

New amount = $62.50

so for the 6% percentage increase

= 62.50 * 6/100

= 62.50 * 0.06

= 3.75

Add to the new amount.

= 62.50 + 3.75

= $66.25

The total cost for a person to buy the shoes including a 6% tax is $66.25