A shop owner raises the price of a $150 pair of shoes by 40%. After a few weeks, because of falling sales, the owner reduces the price of the shoes by 40%. A customer then says that the shoes are back at the original What is the mistaken assumption here?Why is that assumption incorrect?What do the shoes actually cost now? show calculationBy what percent should the shoes be decreased in order to have the price back at $150? Round to the nearest 10th (for example if your decimal answer is .058267 your answer would be 5.8267% round to nearest 10th percent answer is 5.8%) show calculation

The increase in the price and the decrease in the price is to be calculated. Follow 2nd step.

Answered: A shop owner raises the price of a $150…

Mathematics For Machine Technology

8th Edition

ISBN:9781337798310

Author:Peterson, John.

Publisher:Peterson, John.

Chapter24: Percent Practical Applications

Section: Chapter Questions

Problem 32A: A manufacturer estimates that 15,500 pieces per day could be produced with the installation of new...

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A shop owner raises the price of a $150 pair of shoes by 40%. After a few weeks, because of falling sales, the owner reduces the price of the shoes by 40%. A customer then says that the shoes are back at the original

What is the mistaken assumption here?
Why is that assumption incorrect?
What do the shoes actually cost now? show calculation
By what percent should the shoes be decreased in order to have the price back at $150? Round to the nearest 10^th (for example if your decimal answer is .058267 your answer would be 5.8267% round to nearest 10^th percent answer is 5.8%) show calculation

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