48. another shoe store uses a 40% markup on the wholesale price. find the wholesale price of a pair of shoes…

48. another shoe store uses a 40% markup on the wholesale price. find the wholesale price of a pair of shoes that sells for $63.

48. another shoe store uses a 40% markup on the wholesale price. find the wholesale price of a pair of shoes that sells for $63.

Answer

Explanation:

Step1: Let the wholesale price be $x$.

The selling - price is the wholesale price plus the markup. The markup is 40% of the wholesale price, so the selling - price formula is $Selling\ price=x + 0.4x=1.4x$.

Step2: Set up the equation.

We know that the selling price $S = 63$, and $S = 1.4x$. So the equation is $1.4x=63$.

Step3: Solve for $x$.

Divide both sides of the equation by 1.4: $x=\frac{63}{1.4}=45$.

Answer:

$45$