Question

A Scrabble Game is on sale for $8.50. If the regular price is $10.00, how do you find the Markdown percentage?

Answer 1

This price change was a 15% decrease or markdown.

Explanation:

The formula for determining the percentage marked up or marked down is: `p = (N - O) / O * 100` where `p` is the percentage change, `N` is the new price and `O` is the old price.

Filling in the equation with the information we know gives you:

`p = (8.50 - 10) / 10 * 100`

Which simplifies to:

`p = -1.50 / 10 * 100`

`p = -0.15 * 100`

#p = -15

So this price change was a 15% decrease or markdown.