Central Ski and Cycle purchased 50 pairs of ski boots for $360 per pair less 33 % and 10%. The regular rate of mark-up on selling price on the boots is 40%. The store's overhead is 22% of the selling price. During a January clearance sale, the price was reduced to $270 per pair.
a) What was the rate of markdown for the sale?
b) What was the profit or loss on each pair of boots at the sale price?
c) At the sale price, what was the rate of mark-up on cost?

Question

Central Ski and Cycle purchased 50 pairs of ski boots for $360 per pair less 33  % and 10%. The regular rate of mark-up on selling price on the boots is 40%. The store's overhead is 22% of the selling price. During a January clearance sale, the price was reduced to $270 per pair.
a) What was the rate of markdown for the sale?
b) What was the profit or loss on each pair of boots at the sale price?
c) At the sale price, what was the rate of mark-up on cost?

Quizplus · Accepted Answer

The Answer of Central Ski and Cycle purchased 50 pairs of ski boots for $360 per pair less 33  % and 10%. The regular rate of mark-up on selling price on the boots is 40%. The store's overhead is 22% of the selling price. During a January clearance sale, the price was reduced to $270 per pair.
a) What was the rate of markdown for the sale?
b) What was the profit or loss on each pair of boots at the sale price?
c) At the sale price, what was the rate of mark-up on cost?

Central Ski and Cycle Purchased 50 Pairs of Ski Boots