SOLUTION: Sam, a store employee, bought a shirt for $9 using the employee discount of 40% off retail. The store marks up all merchandise 50% on cost. How much did the store pay for the shi

Question 252680: Sam, a store employee, bought a shirt for $9 using the employee discount of
40% off retail. The store marks up all merchandise 50% on cost. How much
did the store pay for the shirt?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
What do we know?
We know the employee cost$9 and discounts 40% and markup rates 50%.
so if we can find the markedup price we can find the store cost.
So Sam paid $9 with a 40% discount
1.00-.40=.60
.60x=9
3x/5=9
3x=45
x=15
check
.40*15=2/5*15=2*3=6
15-6=9
ok
markedup or retail price was 15 dollars
so 1.5y=15
3/2x=15
3y=30
y=10 store cost
check
50%*10=5
10+5=15
.40*15=6
15-6=9
ok
How odd that the employee buys below the store's cost!!
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