SOLUTION: A shoe store bought 225 pairs of shoes for $15750. Twenty five pairs were sold at markup of 150% of cost and 175 pairs at markup of 75% of cost; 10 pairs were sold during a clearan

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Question 1097507: A shoe store bought 225 pairs of shoes for $15750. Twenty five pairs were sold at markup of 150% of cost and 175 pairs at markup of 75% of cost; 10 pairs were sold during a clearance sale for $80 each and the remaining shoes were disposed of at 20% below cost. Assume all pairs of shoes had the same cost. What is the cost of shoes?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
A shoe store bought 225 pairs of shoes for $15750. What is the cost of shoes?
The shoes cost $15750. We can stop here. The question doesn't even ask about a pair of shoes.
15750/225=70 Seventy dollars per pair
The remaining info is extraneous and not needed.
Twenty five pairs were sold at markup of 150% of cost and 175 pairs at markup of 75% of cost; 10 pairs were sold during a clearance sale for $80 each and the remaining shoes were disposed of at 20% below cost.