Question

A department store sells a pair of shoes with an 87% markup. If the store bought the pair of shoes for $55.25, what is the selling price to the nearest dollar? A. $87 B. $103 C. $142 D. $187

Answer 1

Markup means they sell it for that percentage more than they bought it for. First let's calculate how much they will mark it up for:

$\sf 55.25\cdot 87\%$

Convert 87% into a decimal(87/100):

$\sf 55.25\cdot 0.87$

Multiply:

$\sf\approx 48$

This is how much they'll mark it up, now let's add it to how much they bought it for to find out the selling price:

$\sf 48+55.25\approx\boxed{\sf \ 103}$