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A shop owner raises the price of a $150 pair of shoes by 40%. After a few weeks, because of falling sales, the owner reduces
A shop owner raises the price of a $150 pair of shoes by 40%. After a few weeks, because of falling sales, the owner reduces the price of the shoes by 40%. A customer then says that the shoes are back at the original price.
- What is the mistaken assumption here?
- Why is that assumption incorrect?
- What do the shoes actually cost now? show calculation
- By what percent should the shoes be decreased in order to have the price back at $150? Round to the nearest 10th percentage. (for example if your decimal answer is .058267 your answer would be 5.8267% round to nearest 10th percent answer is 5.8%) show calculation
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