Find selling price

Question

Chong makes a walking shoes at a cost of $16.80 per pair. Based on past experience 10 pairs of the shoes will be defective and must be sold as irregulars for $24 per pair. Chong produces 1,000 pairs of the shoes and desires a markup of 100% on cost, find the selling price.

 

Multiple Choice Question:

$28.60
$35.80
$32.80
$34.56
$34.67

Answer 1

If you mean that 10 pairs in a thousand are defective, then, here is how to solve:

 

cost = 1000 = 16.80 = 16800

 

2 x cost = 33600

 

(10)(24) + 990(x) = 33600

 

240 + 990x = 33600

 

990x = 33360

 

x = $33.70