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.

Answer 1

Answer:

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 =$\frac{Change}{CP} \times 100$

Percentage increase =$\frac{75.19}{55} \times 100 =136.709\%$

2)The state tax is 8%

So, Amount of tax on the Kyrie 5. = $8\% \times 55$

                                                        =$\frac{8}{100} \times 55$

                                                        = 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