Step-by-step explanation:
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EXPLANATION
Price of shoes = $5.50
Markup= 40%
Let's call x to the unknown final price.
The markup percentage relationship is given by the following formula:
Replacing terms:
Multiplying both sides by 5.5:
Dividing both sides by 100:
Adding 5.5 to both sides:
Simplifyng the fraction:
Adding numbers:
Switching sides:
Answer: The final price of the shoes in the deparment store is $7.7