A Sporting Goods Store Buys Ski Boots At A Wholesale Cost Of $96 Per Pair And Marks Up The Price By 195%. The Store Is Having A Sale Where Everything Is 30% Off The Sticker Price. Estimate The Final Price Of The Ski Boots.

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Calculating the Wholesale Cost and Markup

When a sporting goods store buys ski boots at a wholesale cost of $96 per pair, it's essential to understand the markup process. The store marks up the price by 195%, which means the new price is 195% more than the original wholesale cost. To calculate the new price, we need to find 195% of the wholesale cost and add it to the original price.

Wholesale Cost: $96 per pair Markup Percentage: 195%

To find 195% of the wholesale cost, we multiply the wholesale cost by 1.95 (since 195% is equivalent to 1.95).

$96 x 1.95 = $186.40

Now, we add the markup amount to the wholesale cost to get the new price.

$96 + $186.40 = $282.40

Applying the Sale Discount

The store is having a sale where everything is 30% off the sticker price. To find the final price of the ski boots, we need to apply the discount to the new price.

New Price: $282.40 Discount Percentage: 30%

To calculate the discount amount, we multiply the new price by 0.30 (since 30% is equivalent to 0.30).

$282.40 x 0.30 = $84.72

Now, we subtract the discount amount from the new price to get the final price.

$282.40 - $84.72 = $197.68

Conclusion

In conclusion, the final price of the ski boots after the sale is $197.68. This is the price that customers will pay during the sale. The sporting goods store's markup of 195% and the 30% discount have resulted in a final price that is significantly lower than the original wholesale cost.

Key Takeaways

  • The wholesale cost of the ski boots is $96 per pair.
  • The store marks up the price by 195%, resulting in a new price of $282.40.
  • The store applies a 30% discount to the new price, resulting in a final price of $197.68.

Real-World Applications

This problem illustrates the importance of understanding pricing strategies and discounts in a retail setting. By applying the markup and discount percentages, we can estimate the final price of an item and make informed purchasing decisions. This skill is essential for anyone working in retail, sales, or marketing.

Additional Examples

To further illustrate the concept, let's consider a few additional examples:

  • If the store marks up the price by 250% instead of 195%, what would be the new price?
  • If the store applies a 25% discount instead of 30%, what would be the final price?
  • If the wholesale cost of the ski boots is $120 per pair instead of $96, what would be the final price after the sale?

These examples demonstrate the importance of understanding pricing strategies and discounts in a retail setting. By applying the markup and discount percentages, we can estimate the final price of an item and make informed purchasing decisions.

Final Thoughts

In conclusion, the final price of the ski boots after the sale is $197.68. This is the price that customers will pay during the sale. The sporting goods store's markup of 195% and the 30% discount have resulted in a final price that is significantly lower than the original wholesale cost. By understanding pricing strategies and discounts, we can make informed purchasing decisions and navigate the complex world of retail pricing.

Frequently Asked Questions

The previous article discussed the pricing puzzle of a sporting goods store that buys ski boots at a wholesale cost of $96 per pair and marks up the price by 195%. The store is having a sale where everything is 30% off the sticker price. In this Q&A article, we'll address some common questions related to the pricing puzzle.

Q: What is the original wholesale cost of the ski boots?

A: The original wholesale cost of the ski boots is $96 per pair.

Q: What is the markup percentage applied to the wholesale cost?

A: The store marks up the price by 195%.

Q: What is the new price of the ski boots after the markup?

A: The new price of the ski boots after the markup is $282.40.

Q: What is the discount percentage applied to the new price?

A: The store applies a 30% discount to the new price.

Q: What is the final price of the ski boots after the sale?

A: The final price of the ski boots after the sale is $197.68.

Q: How does the store's markup and discount affect the final price?

A: The store's markup of 195% and the 30% discount result in a final price that is significantly lower than the original wholesale cost.

Q: What is the difference between the original wholesale cost and the final price?

A: The difference between the original wholesale cost and the final price is $100.32 ($197.68 - $96).

Q: How can I calculate the final price of an item with a markup and discount?

A: To calculate the final price, you need to apply the markup percentage to the wholesale cost, then apply the discount percentage to the new price.

Q: What are some real-world applications of understanding pricing strategies and discounts?

A: Understanding pricing strategies and discounts is essential for anyone working in retail, sales, or marketing. It helps you make informed purchasing decisions and navigate the complex world of retail pricing.

Q: Can I use this pricing puzzle to estimate the final price of other items?

A: Yes, you can use this pricing puzzle as a template to estimate the final price of other items with a markup and discount.

Q: What if the store marks up the price by a different percentage?

A: If the store marks up the price by a different percentage, you would need to recalculate the new price using the new markup percentage.

Q: What if the store applies a different discount percentage?

A: If the store applies a different discount percentage, you would need to recalculate the final price using the new discount percentage.

Additional Tips and Tricks

  • Always calculate the markup and discount percentages separately to avoid confusion.
  • Use a calculator or spreadsheet to help you with the calculations.
  • Practice estimating the final price of different items with various markups and discounts.
  • Consider using a pricing calculator or spreadsheet to help you with complex pricing calculations.

Conclusion

In conclusion, the pricing puzzle of the sporting goods store that buys ski boots at a wholesale cost of $96 per pair and marks up the price by 195% is a great example of how to estimate the final price of an item with a markup and discount. By understanding pricing strategies and discounts, you can make informed purchasing decisions and navigate the complex world of retail pricing.