Question

To make a profit, a clothing store sells jeans at 115% the amount they paid for them. How much did the store pay for the jeans shown?

Answer 1

To find the original cost of the jeans, set up an equation using the selling price and profit. Divide the amount shown by 2.15 to find the store's payment.

Step-by-step explanation:

To find out how much the clothing store paid for the jeans, we need to determine the original cost of the jeans. The store sells the jeans at 115% of the amount they paid, which means the selling price is 115% of the original cost. We can set up an equation:

Selling Price = Original Cost + Profit

Let's say the store paid $x for the jeans. Then, the selling price would be $x + $x * 115% = $x + $x * 1.15 = $x * 2.15.

So, the equation becomes:

$x * 2.15 = $amount_shown

To solve for x, we can divide both sides of the equation by 2.15:

$x = $amount_shown / 2.15

Therefore, the store paid $x for the jeans shown.

Answer 2

The store paid 6.67 times the profit made on the jeans

Step-by-step explanation:

Let the amount the clothing store pay for Jean be X

Let the amount the clothing store sells Jean be Y = X ×1.15

The profit (P) made is the difference between amount the clothing store sells Jean and the amount paid for Jean = Y - X = 1.15X - X

Profit (P) = 0.15X

X = P/0.15 = 6.67P

Therefore, the store paid 6.67 times the profit made on the jeans