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 1

your cost would be X
Equation:
x + 0.55x = 79.95
0.55x = 79.95
x = 79.95/1.55 = $51.58

Does this help? :)

Answer 2

It is $35.98