Question

1. It cost Nike $55 to make the "Kyrie 5", but it is selling for $130.19. Calculate the markup/percent Increase for the shoe.

2. The state tax is 8%. Calculate how much you will pay in taxes on the Kyrie 5.

3. You just found a coupon for 35% off! What is the new price of the shoe before taxes?

4. On Amazon, you found the same shoe for $108. What is the percent difference between the price of the original and the price of the amazon shoe?

Answer 1

To calculate the markup on the Kyrie 5 shoe, subtract the cost price from the selling price, divide by the cost price, and multiply by 100% to get 136.71%. For an 8% sales tax, the amount is $10.42. With a 35% off coupon, the new price is $84.62. The percent difference between the original and the Amazon price is 17.05%.

Step-by-step explanation:

Calculating Markups, Taxes, and Discounts on the Kyrie 5 Shoe

To calculate the markup percentage, we can use the formula: (Selling Price - Cost Price) / Cost Price * 100%. In this case, the markup is ($130.19 - $55) / $55 * 100% = 136.71%.

Next, we calculate the sales tax. To find the amount of tax, you convert the percent to a decimal by dividing by 100 and then multiply by the total cost. For an 8% tax rate, this is $130.19 * 0.08 = $10.4152, which we round to the nearest cent to get $10.42.

Using the 35% off coupon, we calculate the discount by multiplying the original price by 0.35. The discount is $130.19 * 0.35 = $45.5665, which we round to $45.57. Subtracting this discount from the original price, we have a new price of $130.19 - $45.57 = $84.62.

Lastly, to find the percent difference between the original price and the Amazon price, we use the formula: (Original Price - Amazon Price) / Original Price * 100%. The percent difference is ($130.19 - $108) / $130.19 * 100% = 17.05%.

Answer 2

1)The markup/percent Increase for the shoe is 136.709%

2)Amount of tax on the Kyrie 5 is $4.4

3)The new price of the shoe before taxes is $35.75

Step-by-step explanation:

1) Cost price of Kyrie 5 = $55

Selling price = $130.19.

Difference = 130.19-55=75.19

So, Percentage increase =
`(Change)/(CP) * 100`

Percentage increase =
`(75.19)/(55) * 100 =136.709\%`

2)The state tax is 8%

So, Amount of tax on the Kyrie 5. =
`8\% * 55`

=
`(8)/(100) * 55`

= 4.4

So, You will pay $4.4 in taxes on the Kyrie 5.

3)You just found a coupon for 35% off!

New price of the shoe before taxes =
`55-35\%(55)`

=35.75

So,the new price of the shoe before taxes is $35.75