Question

Because of an increase of 4% in wholesale prices, a shoe store had to mark up its new stock by the same percent. What was the new price of a pair of shoes that had sold for $25.

Answer 1

Answer:the new price of the shoe is $5

Explanation:

The price at which the shoe has been selling is $25.

Because of an increase of 4% in wholesale prices, a shoe store had to mark up its new stock by the same percent. The value of the 4% increase on the initial price of the shoe is

4/100 × 25 = 0.04 × 25 = $1

Therefore, the new price of the shoe would be

4 + 1 = $5