A shoes store buys sneakers at a wholesale price of $17 each. It then marks up the price by 43%, and sells the sneakers. What is the amount of the markup? What is the selling price?

1 Answer
Aug 12, 2016

Answer:

The markup is $7.31

Selling price: = $24.31

Explanation:

There are two methods of increasing $17 by 43%.

One method is to calculate the 43% and add it on to $17.

The markup amount is: #43/100 xx 17 = $7.31

Selling price: #$17 + $7.31 = $24.31#

Second method calculate 143% immediately.

#100%+43% = 143%

Find 143% of $17.

Selling price = #143/100xx$17 = $24.31#

Markup = #$24.31 - 17 = $7.31#