Question

3-5. If the markup on a pair of sports shoes is 600 and the markup rate is 60% on the selling price, find the selling price of the shoes. * 3 points

A. Php 600

B. Php 1 000

C. Php 1 060

D. Php 1 600​

Answer 1

Answer:

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Answer 2

Given:

If the markup on a pair of sports shoes is 600

The  markup rate is 60% on the selling price

To find :

The selling price of the shoes.

Solution:

Markup is the difference between a product's selling price and cost ,as a percentage of cost.

Let 'x' be the cost of the pair of sports shoes ,

x +  60% of x = Selling price

The markup on a pair of sports shoes is 600.

Therefore,

60% of x = 600

60 × $\frac{x}{100}$ = 600

x = 600 × $\frac{10}{60}$

x = 10 × 10

x = 1000

The cost of the pair of sports shoes = Php 1000

Selling price = Cost price  + Markup

Selling price = 1000 + 600

Selling price = Php 1600

Final answer:

The selling price of the shoes is Php 1600

Thus, the correct option is, D. Php 1600​