An item costing $125 was marked up by 30% of the selling price. During a sale, the item was reduced to $120. What was the rate of markdown during the sale?
2 Answers
Feb 20, 2018
Approximately
Explanation:
.
Let's let the marked up price
The rate of markdown would be:
which is approximately
Feb 20, 2018
If a
$125.00 + 0.30 cdot $125.00 = $162.50
If it was put on sale for
($162.50 - $120.00)/($162.50) xx 100% = 26.2%
So the amount of decrease in price divided by the original price is going to give the relative drop in price.