Question

The selling price for Nike Air VaporMax 2020 Flyknit is $220. If the profit markup is

25% over the dealer's cost, what is the dealer's cost for the Nike Air VaporMax 2020

Flyknit?

Answer 1

The dealer’s cost is $176

Explanation:

Here, we want to calculate the dealer’s cost for the the shoe

Since the dealer’s cost is 25% less than the selling price;

Let the dealer’s cost be x

Then;

x + 25% of x = 220

x + 25/100 * x = 220

x + 0.25x = 220

1.25x = 220

x = 220/1.25

x = $ 176