What would the equation for this point be??
1 answer:
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Answer:
Markup of _66.67_ % or $ _33,92_ per pair of boots
Step-by-step explanation:
In order to find the markup per pair of boots, we need to find the sales price BEFORE tax.
That can be done simply with a cross-multiplication (106.25 represents total price with 6.25% tax, and 100 represent amount of sales before tax)
if we isolate x we have x = (90.10 * 100) / 106.25 = $84.80
We can then easily calculate the markup amount, since the boots were sold $84.80 and Marissa paid $50.88, that means her markup amount is $33.92.
Now, let's calculate the markup percentage by see how much $33.92 represents compared to the initial price of $50.88:
$33.92 / $50.88 = 66.67%