Question

A department store sells a pair of shoes with an 37% markup. If the store bought the pair of shoes for $55.25, what is the selling price to the nearest dollar?​

Answer 1

The selling price of the item is $75.6925 dollars.

Data;

Mark up percentage = 37%

cost price = $55.25

Selling Price

The selling price of the shoes is the sum of the cost price and the mark up price.

mark up price is calculated as

`markupprice=(37)/(100)=(x)/(55.25) \\x=(37*55.25)/(100) \\x=20.4425`

`x=20.4425`

The b is $20.4425

The selling price of the shoe is

`55.25+20.4425=75.6925`

The selling price of the item is $75.6925 dollars.

Rounded to the nearest dollar: $76