Questions: A shoe store uses a 50% markup for all of the shoes it sells. What would be the selling price of a pair of shoes that has a wholesale cost of 63? The selling price would be . (Round to the nearest cent as needed.)

Solution Steps

To find the selling price of a pair of shoes with a given wholesale cost and a markup percentage, we can use the following approach:

1. Calculate the markup amount by multiplying the wholesale cost by the markup percentage.
2. Add the markup amount to the wholesale cost to get the selling price.
3. Round the result to the nearest cent.

The markup amount can be calculated using the formula: \[ \text{Markup Amount} = \text{Wholesale Cost} \times \text{Markup Percentage} \] Substituting the values: \[ \text{Markup Amount} = 63 \times 0.5 = 31.5 \]

The selling price is determined by adding the markup amount to the wholesale cost: \[ \text{Selling Price} = \text{Wholesale Cost} + \text{Markup Amount} \] Substituting the values: \[ \text{Selling Price} = 63 + 31.5 = 94.5 \]

The selling price is already at two decimal places, so no further rounding is necessary.

Final Answer