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 ne

Question

Nata [24]

4 years ago

14

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 ne

w price of a pair of shoes that had sold for $25.

Mathematics

1 answer:

Mamont248 [21] · Answer 1 · 2021-11-21T17:35:12+03:00

Answer:the new price of the shoe is $5

Step-by-step 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