Question

I need help please.
The usual markup on shoes at Fast Times Department Store is 240%. During a 25%-off sale, the store sold a pair of shoes for $39.95. Estimate the amount of the store's profit on the shoes.

Answer 1

x +x(2.40) = normal cost of the shoes This is the cost plus 240%

Simplify:
x(1+2.40)
3.40x

if it is 25% off, you are paying 75% of that price.

.75(3.40)x = 39.95

x = 15.67

Check it by 15.67 + 2.40(15.67) to get
53.27

Then during the sale you are paying 75% of the price which is 39.95

Answer 2

That is quite a markup :
I have a sneaking suspicion that they mean 140% markup but will do it as stated

.75 * price = 39.95
so usual price = 53.27

cost + 2.40 * cost = 53.27
3.40 * cost = 53.27
cost = 15.67

39.95 - 15.67 = 24.28

Answer 3

John thanks for helping. Just to make sure, is the store's profit $53.27