Mr. Perez owns a sneaker store. He bought 350 pairs of basketball sneakers and 150 pairs of soccer sneakers from the manufacturers for $62,500. He sold all the sneakers and made a 25% profit. If he sold the soccer sneakers for $130 per pair, how much did he charge for one pair of basketball sneakers?

Question

21-10-2019
Mathematics

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Mr. Perez owns a sneaker store. He bought 350 pairs of basketball sneakers and 150 pairs of soccer sneakers from the manufacturers for $62,500. He sold all the sneakers and made a 25% profit. If he sold the soccer sneakers for $130 per pair, how much did he charge for one pair of basketball sneakers?

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lestat345 lestat345 · Answer 1 · 2019-10-24T22:40:29+02:00

Answer:

Mr. Perez charges $167.5 for one pair of basketball sneakers

Step-by-step explanation:

Hi

As Mr. Perez sold all the sneakers and made a 25% profit, this means that total income is [tex]\$ 62,500+25 \% =\$ 78,125[/tex].

If he sold the soccer sneakers for $130 per pair and there were 150 pairs, this means that soccer sneakers income is [tex]150*\$ 130=\$ 19,500[/tex]

He sold the basketball sneakers for [tex]x[/tex] per pair and there were 350 pairs, this means that basketbal sneakers income is [tex]350x[/tex]

Using this info we can build an equation [tex]350x+\$ 19,500=\$ 78,125[/tex], clearing it for [tex]x[/tex], we have [tex]x=\frac{\$ 78,125-\$19,500}{350} =\frac{\$335}{2}=\$167.5[/tex]