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 $25.00 each $23.00 each $21.00 each $19.00 each $17.00 each (per pair)
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)
Let's denote the retail price as R and the wholesale price as W.
The equation that could be used to find the retail price for each range is:
R = W + (W * 0.8)
This equation calculates the retail price by adding 80% of the wholesale price to the wholesale price. Since the wholesale price varies depending on the quantity of shoes purchased, this equation will consistently work for each range because it takes into account the specific wholesale price for each range and applies a consistent markup of 80% to it.
Can you just answer the questions
Yes, sorry for the confusion. The equation that could be used to find the retail price for each range is:
R = (W * 1.8)
This equation multiplies the wholesale price by 1.8, which is equivalent to a markup of 80%. This equation will work consistently for each range because it applies the same markup percentage to the wholesale price, regardless of the specific wholesale price for each range.
Can you make this part shorter? This equation will consistently work for each range because the markup of 80% is applied to the wholesale price in a consistent manner. Regardless of the specific wholesale price, adding 80% of that wholesale price will consistently give the correct retail price. The equation is designed to account for the varying wholesale prices based on the quantity of shoes purchased, ensuring a consistent and accurate calculation of the retail price.
Yes, certainly! The equation will consistently work for each range because regardless of the specific wholesale price, adding 80% to the wholesale price will always yield the correct retail price. This equation is designed to account for the varying wholesale prices based on the quantity of shoes purchased, ensuring a consistent and accurate calculation of the retail price.
This question is connected
The equation that could be used to find the retail price for each range is:
R = W + (W * 0.8)
This equation will consistently work for each range because it applies a markup of 80% to the wholesale price. The equation accounts for the varying wholesale prices based on the quantity of shoes purchased, ensuring a consistent and accurate calculation of the retail price.
This next question is connected to it...
Apologies for the confusion. Could you please clarify what the next question is that is connected to this?
Using the formula from the first part, calculate the retail price for each quantity range.
(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
Retail Price (per pair)
Using the formula from the first part, which is R = W + (W * 0.8), we can calculate the retail prices for each quantity range:
For 0-20 pairs:
Wholesale Price = $25.00
Retail Price = $25.00 + ($25.00 * 0.8) = $45.00
For 21-40 pairs:
Wholesale Price = $23.00
Retail Price = $23.00 + ($23.00 * 0.8) = $41.40
For 41-60 pairs:
Wholesale Price = $21.00
Retail Price = $21.00 + ($21.00 * 0.8) = $37.80
For 61-80 pairs:
Wholesale Price = $19.00
Retail Price = $19.00 + ($19.00 * 0.8) = $34.20
For 81 or more pairs:
Wholesale Price = $17.00
Retail Price = $17.00 + ($17.00 * 0.8) = $30.60
Therefore, the retail prices for each quantity range are:
0-20 pairs: $45.00
21-40 pairs: $41.40
41-60 pairs: $37.80
61-80 pairs: $34.20
81 or more pairs: $30.60
Can you still answer the question but just make it a little shorter
Certainly! Here are the retail prices for each quantity range:
- 0-20 pairs: $45.00
- 21-40 pairs: $41.40
- 41-60 pairs: $37.80
- 61-80 pairs: $34.20
- 81 or more pairs: $30.60