Question
Richard, a shoe store owner, purchases snow boots for $50 each and has a rate of markup of 29.00% on cost. In January, he marks
Richard, a shoe store owner, purchases snow boots for $50 each and has a rate of markup of 29.00% on cost. In January, he marks them down to a reduced selling price of $42.50.
a. What is the regular selling price of the boots?
Regular Selling Price =
b. What is the rate of markdown in January?
Rate of Markdown in January =
Step by Step Solution
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Step: 1
a To find the regular selling price of the boots we ...
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
