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?

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Answer 1 · 2016-08-12T17:22:17

The markup is $7.31

Selling price: = $24.31

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: $$ 17 + $ 7.31 = $ 24.31$ $$17 + $7.31 = $24.31$

Second method calculate 143% immediately.

#100%+43% = 143%

Find 143% of $17.

Selling price = $\frac{143}{100} \times $ 17 = $ 24.31$ $143/100xx$17 = $24.31$

Markup = $$ 24.31 - 17 = $ 7.31$ $$24.31 - 17 = $7.31$