Question

the wholesale price for a pair of shoes is $8.50. a certain department store marks up the wholesale price by 40%. find the price of the pair of shoes in the department store.
round your answer to the nearest cent, as necessary.

Explanation:

Step1: Calculate the markup amount

The markup percentage is 40%, so we find 40% of the wholesale price (\$8.50). The formula for finding a percentage of a number is \( \text{Percentage} \times \text{Number} \). So, 40% of 8.50 is \( 0.40 \times 8.50 \).
\( 0.40 \times 8.50 = 3.40 \)

Step2: Add the markup to the wholesale price

The department store price is the wholesale price plus the markup. So, we add 3.40 to 8.50.
\( 8.50 + 3.40 = 11.90 \)

Answer:

\$11.90