Answer: The store paid $84 to purchase the skateboard
Explanation:
If the selling price of the skateboard is $147 and the markup is 75%, we can find the cost of the skateboard by working backwards from the selling price.
Let's start by calculating the original cost of the skateboard before the markup was applied. We can do this by dividing the selling price by 1 plus the markup percentage as a decimal:
original cost = selling price / (1 + markup percentage)
Converting the markup percentage to a decimal:
markup percentage = 75% = 0.75
original cost = 147 / (1 + 0.75)
original cost = 147 / 1.75
original cost = 84