Let x be the wholesale price for each range. To find the retail price for each range, we use the formula:
Retail Price = Wholesale Price + (Wholesale Price * Markup Percentage)
The markup percentage is 80%.
Therefore, the equation that could be used to find the retail price for each range is:
Retail Price = x + (x * 0.8)
We know this equation will work consistently for each range because the markup percentage is constant and applied to the wholesale price in all cases. Additionally, the equation accounts for the variation in the wholesale price based on the quantity of shoes purchased.
A local shoe store buys shoes at a wholesale price and then marks them up 80% to calculate the retail price. The wholesale price varies, depending on the quantity of shoes purchased. (2 points)
Quantity
0-20 pairs 21-40 pairs 41-60 pairs 61-80 pairs 81 or more pairs
Wholesale Price $25.00 each $23.00 each $21.00 each $19.00 each $17.00 each (per pair)
Write an equation that could be used to find the retail price for each range. How do you know the equation will work consistently for each range? (2 points)
5 answers
Can you summarize your answer
The equation to find the retail price for each range of shoes is:
Retail Price = Wholesale Price + (Wholesale Price * 0.8)
This equation will work consistently for each range because it accounts for the constant markup percentage of 80% and adjusts for the variation in the wholesale price based on the quantity of shoes purchased.
Retail Price = Wholesale Price + (Wholesale Price * 0.8)
This equation will work consistently for each range because it accounts for the constant markup percentage of 80% and adjusts for the variation in the wholesale price based on the quantity of shoes purchased.
Can you provide the answer as well
Certainly! The equation to find the retail price for each range is:
Retail Price = Wholesale Price + (Wholesale Price * 0.8)
For example, if the wholesale price for a range is $25.00 each, the retail price would be:
Retail Price = $25.00 + ($25.00 * 0.8)
Retail Price = $25.00 + $20.00
Retail Price = $45.00
Similarly, you can find the retail price for each range by substituting the corresponding wholesale price in the equation.
Retail Price = Wholesale Price + (Wholesale Price * 0.8)
For example, if the wholesale price for a range is $25.00 each, the retail price would be:
Retail Price = $25.00 + ($25.00 * 0.8)
Retail Price = $25.00 + $20.00
Retail Price = $45.00
Similarly, you can find the retail price for each range by substituting the corresponding wholesale price in the equation.