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Part 1
A shoe store uses a 60% markup for all of the shoes it sells. What would be the selling price of a pair of shoes that has a wholesale cost of $55?
To calculate the selling price of the shoes with a 60% markup, you need to add 60% of the wholesale cost to the wholesale cost.
Markup = 60% of $55 = 0.60 * $55 = $33
Selling price = Wholesale cost + Markup
Selling price = $55 + $33
Selling price = $88
Therefore, the selling price of a pair of shoes with a wholesale cost of $55 and a 60% markup would be $88.