Question

SM 4 - 7 A shoe store marks up
its merchandise by 8%. What is the
selling price of a pair of shoes
whose wholesale price was
$34.50?

Answer 1

Assuming $34.50 is the price after the 8% price increase, we can set up this equation (if 34.50 is the old price, scroll down):

34.50=$\frac{108}{100} x$
Where x ( or 100/100 x) is the original price.
We can simply the fraction, or just multiply by 100 on both sides.

3450=108x

x=31.9444 (4 repeating).

If the old price is 34.50, then we can set up this equation:

34.50+ $(\frac{8}{100} *34.50)$ = x

34.5 + 2.76 = x

x = 37.26

The new selling price would be $37.26.

Answer 2

i think the answer would be 37.26 because you would multiply 34.50 x .08 and get 2.76 (which is 8% of 34.50) which you would then add to your total of 34.50 to get 37.26