16. a shoe store uses a 50% markup for all of the shoes it sells. the store also charges a 10% sales tax on…

16. a shoe store uses a 50% markup for all of the shoes it sells. the store also charges a 10% sales tax on all purchases. what would be the purchase price, including sales tax, of a pair of shoes that has a wholesale cost of $57?

16. a shoe store uses a 50% markup for all of the shoes it sells. the store also charges a 10% sales tax on all purchases. what would be the purchase price, including sales tax, of a pair of shoes that has a wholesale cost of $57?

Answer

Explanation:

Step1: Calculate the price after markup

Let the wholesale cost be $C = 57$. The markup is 50%, so the price $P_1$ after markup is $P_1=(1 + 0.50)\times C$. Substituting $C = 57$ into the formula, we get $P_1=1.5\times57 = 85.5$.

Step2: Calculate the price after sales - tax

The sales - tax rate is 10%. Let the price after markup be $P_1$. The purchase price $P$ including sales - tax is $P=(1 + 0.10)\times P_1$. Substituting $P_1 = 85.5$ into the formula, we get $P = 1.1\times85.5=94.05$.

Answer:

$94.05$