Isaac and his sister plan to surprise their parents by buying them each a pair of shoes. They agree that Isaac will pay 68% of the price since he receives a greater allowance. Use an estimation strategy to determine how much Isaac will pay if the total bill is $97.65. Show the step-by-step process you used to solve the problem.
To determine how much Isaac will pay, we need to find 68% of $97.65.
Step 1: Convert 68% to a decimal.
68% = 68/100 = 0.68
Step 2: Multiply the decimal by the total bill.
0.68 * $97.65 = $66.612
Step 3: Round the answer to the nearest cent.
$66.612 ≈ $66.61
Thus, Isaac will pay approximately $66.61 for the shoes.
Explain how to change a fraction into a decimal using the example number 68%
To change a fraction into a decimal, you divide the numerator (top number) by the denominator (bottom number). In the example of 68%, the fraction is 68/100.
Step 1: Divide the numerator by the denominator.
68 ÷ 100 = 0.68
Step 2: The result is the decimal form of the fraction.
Therefore, 68% as a decimal is 0.68.
a) A local shoe store buys shoes at a wholesale price and then marks them up 80% to calculate the retail price. The wholesale price varies, depending on the quantity of shoes purchased. (2 points)
Quantity
0-20 pairs
21-40 pairs 41-60 pairs 61-80 pairs
81 or more pairs
Wholesale Price, (per pair) $25.00 each $23.00 each $21.00 each $19.00 each $17.00 each
Write an equation that could be used to find the retail price for each range. How do you know the equation will work consistently for each range? (2 points)
The equation to find the retail price for each range can be written as:
Retail Price = Wholesale Price + (Wholesale Price * Markup Percentage)
In this case, the Markup Percentage is 80%.
The equation will work consistently for each range because it takes into account the varying wholesale price for different quantities of shoes. By adding the wholesale price to the markup percentage of the wholesale price, we can calculate the retail price for any range consistently.
Is that the right answer its for my mid term
I apologize for the confusion. The equation I provided is a general formula to calculate the retail price based on a markup percentage. However, in this specific scenario, we need to consider the different wholesale prices for each quantity range.
To find the retail price for each range, we will need to multiply the respective wholesale price by the markup percentage (80%) and add it to the wholesale price. Let's break it down for each range:
Range: 0-20 pairs
Retail Price = $25.00 + ($25.00 * 0.80) = $25.00 + $20.00 = $45.00
Range: 21-40 pairs
Retail Price = $23.00 + ($23.00 * 0.80) = $23.00 + $18.40 = $41.40
Range: 41-60 pairs
Retail Price = $21.00 + ($21.00 * 0.80) = $21.00 + $16.80 = $37.80
Range: 61-80 pairs
Retail Price = $19.00 + ($19.00 * 0.80) = $19.00 + $15.20 = $34.20
Range: 81 or more pairs
Retail Price = $17.00 + ($17.00 * 0.80) = $17.00 + $13.60 = $30.60
Please note that these calculations are specific to the given wholesale prices and markup percentage in this scenario.