Central Ski and Cycle purchased 50 pairs of ski boots for $360 per pair less 33 ½ % and 10%. The regular rate of markup on selling price of the boots is 40%. The store’s overhead is 22% of the selling price. During a January clearance sale, the price was reduced to $270 per pair.
a. What was the rate of markdown for the sale?
b. What was the profit or loss on each pair of boots at the sale price?
c. At the sale price, what was the rate of markup on cost?