Answer:
$15, $50
Step-by-step explanation:
Given:
The owner of a sporting goods store has decided upon a 50-percent markup on all apparel.
Question asked:
How much will the store charge for bicycle shorts it purchased from the wholesaler for $10 each?
What did the store pay for running shoes that are selling for $75?
Solution:
Cost price of bicycle shorts = $10
Mark up amount = 50% of $10
= [tex]\frac{50}{100} \times10=\frac{500}{100} =5[/tex]
Selling price of bicycle shorts = Cost price + Mark up amount
= $10 + $5 = $15
Thus, the store will charge $15 for bicycle shorts.
Selling price of running shoes = $75
Cost price of running shoes = ?
Mark up amount = 50% of Cost price
[tex]=\frac{50}{100} \times x=\frac{1}{2} \times x=\frac{x}{2}[/tex]
Selling price of running shoes = Cost price + Mark up amount
[tex]75=x+\frac{x}{2} \\ \\ 75=\frac{2\times x+1\times x}{2} \\ \\ 75=\frac{2x+x}{2} \\ \\ 75=\frac{3x}{2} \\ \\ By\ cross\ multiplication\\ \\ 3x=75\times2\\ \\ 3x=150\\ \\ By\ dividing\ both\ sides\ by\ 3\\ \\ x=50[/tex]
Thus, the store paid $50 for running shoes that are selling for $75.
Based on the amount of markup, the store:
If the store bought the shorts for $10 and marks it up by 50%, the amount it will sell it is:
= Cost of shorts x ( 1 + markup)
= 10 x ( 1 + 50%)
= 10 x 1.5
= $15
If the store purchased shoes for $75, the cost would have been:
75 = Cost x ( 1 + 50%)
Cost = 75 / 1.5
Cost = $50
In conclusion, the store will sell the shorts for $15 and bought the shoes for $50.
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