Step 3: Solving real-world problems that involve markups
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
Wholesale
Price
(per pair)
0-20 pairs
$25.00
each
21-40
pairs
$23.00
each
41-60
pairs
$21.00
each
61-80
pairs
$19.00
each
81 or
more
pairs
$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)