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Question

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Marissa's Fashions purchases designer boots from a manufacturer for $50.88 per pair. Marissa then adds a certain amount to the price of the boots as a markup when she sells them in the store. The total cost for a customer buying the boots at the store is $90.10. This includes a 6.25% sales tax that is added after the markup.

The percent of markup before tax is about %, which is a markup of $ per pair of boots.

Answer 1

To find the percent of markup before tax and the markup amount, we can follow these steps:

1. Calculate the price before sales tax. Let \( P \) be the price before tax. The sales tax is 6.25%, so: \[ P + 0.0625P = 90.10 \] This simplifies to: \[ 1.0625P = 90.10 \] Now solve for \( P \): \[ P = \frac{90.10}{1.0625} \approx 84.75 \]

2. Determine the markup amount. The cost price of the boots is $50.88, and the selling price before tax is approximately $84.75: \[ \text{Markup} = P - \text{Cost Price} = 84.75 - 50.88 \approx 33.87 \]

3. Calculate the percent of markup. The percent of markup can be calculated as: \[ \text{Percent of Markup} = \left(\frac{\text{Markup}}{\text{Cost Price}}\right) \times 100 \] Substitute the values: \[ \text{Percent of Markup} = \left(\frac{33.87}{50.88}\right) \times 100 \approx 66.69 \]

Summarizing the results:

• The percent of markup before tax is approximately 66.69%.
• The markup amount is approximately $33.87.

Thus, the final answers are:

Percent of markup: 66.69
Markup amount: 33.87