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Question 1076388: A shoe store marks up the price of its shoes at 140 %140% over cost. A pair of shoes goes on sale for 15 %15% off and then on the clearance rack for an additional 25 %25% off. A customer walks in with a 10 %10% off coupon good on all clearance items and buys the shoes. Express the store's profits on these shoes as a percentage of the original cost.
The store's profit as a percentage of the cost of the original shoe is *WHAT* percent??
I've tried this problem multiple times and kept getting the wrong answer,
I appreciate your time.
Thank You.
Answer by jorel1380(3719)   (Show Source):
You can put this solution on YOUR website! If the store marks the shoes up 140%, then the selling price is (100+140)% cost, or 2.4 times the cost.
The pair of shoes then goes on sale for 15% off; or 85% of the original price. Thus: .85 x 2.4=2.04
Then, the clearance rack brings the price to:
.75 x 2.04=1.53
Then, the 10% off coupon; making it 90% of the clearance price:
1.53 x .9=1.377
Leaving the shoe store with 1.377-1, or a 37.7% profit above the original cost. ☺☺☺☺
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