SOLUTION: You are the buyer for The Shoe Outlet. You are looking for a line of men’s shoes to retail for $79.95. If your objective is a 55% markup based on selling price, what is the most th

Algebra ->  Human-and-algebraic-language -> SOLUTION: You are the buyer for The Shoe Outlet. You are looking for a line of men’s shoes to retail for $79.95. If your objective is a 55% markup based on selling price, what is the most th      Log On


   

Question 775988: You are the buyer for The Shoe Outlet. You are looking for a line of men’s shoes to retail for $79.95. If your objective is a 55% markup based on selling price, what is the most that you can pay for the shoes and still get the desired markup?

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
You are the buyer for The Shoe Outlet. You are looking for a line of men’s shoes to retail for $79.95. If your objective is a 55% markup based on selling price, what is the most that you can pay for the shoes and still get the desired markup?
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Let your cost be "x":::
Equation::
x + 0.55x = 79.95
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1.55x = 79.95
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x = 79.95/1.55 = $51.58
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Cheers,
Stan H.
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