An upscale clothing boutique charges $300 for a brand name pair of jeans, which is 50% more than the amount it costs the store to buy one pair of these jeans. As a benefit of working there, employees can purchase the pair of jeans at 30% off the store's cost. How much (in $) would it cost for an employee to purchase a pair of jeans?
$X = Store's cost.
Selling Price = X + 0.5X
X + 0.5X = 300
1.5x = 300
X = $200
100%-30% = 70%
Employees Cost = 0.7 * 200 = $140.
210
Henry is incorrect.
Employees Cost = 0.7 * 300 = $210
NOT 200, 300
To find out how much it would cost for an employee to purchase a pair of jeans, we will need to follow these steps:
1. Calculate the cost of the jeans for the store: If the jeans are being sold for $300, which is 50% more than the cost to the store, we can let x represent the cost to the store. So, we can set up the equation:
x + 0.50x = $300
Combining like terms, we get:
1.50x = $300
Dividing both sides by 1.50, we find:
x = $200
2. Calculate the employee discount: Employees can purchase the jeans at a 30% discount off the store's cost. So, to find the discount amount, we multiply the cost to the store by 30%:
Discount amount = 0.30 * $200
This gives us a discount of $60.
3. Calculate the cost for an employee to purchase the jeans: To find the cost for an employee to purchase the jeans, we subtract the discount amount from the cost to the store:
Cost for employee = $200 - $60
Therefore, it would cost an employee $140 to purchase a pair of jeans.