Answer: Cost price of each pair of socks is $6.25.
Step-by-step explanation:
Given: The total amount spent by Julie before tax= $40.50
Cost price of a pair of shorts =$21.75
Now, Cost price of 3 socks =[tex]\$40.50-\$21.75=\$18.75[/tex]
Therefore, Cost price of 3 socks =$18.75
Let x be the cost price of each pair of socks.
[tex]\Rightarrow3x=18.75\\\Rightarrow\ x=\frac{18.75}{3}\\\Rightarrow\ x=6.25[/tex]
Hence, cost price of each pair of socks is $6.25.