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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Solve the following word problems. Round dollars to the nearest cent and percents to the nearest tenth of a percent.

From the Office Market coupon shown here,

a. Calculate the markdown percent.

b. If the offer was changed to “Buy 3, Get 2 Free,” what would be the new markdown percent?

c. Which offer is more profitable for the store? Explain.

(a)

To determine

To calculate: The Markdown percent, for given, amount of Markdown is $8.99.

Explanation

Given Information:

The amount of Markdown is $8.99.

Formula used:

The Markdown Percent can be calculated using the following equation:

Markdown%=MarkdownOriginal Price or MD%=MDOrig

Calculation:

Consider the provided data, amount of Markdown $8.99.

The Original Selling Price is:

Original Selling Price=8.99×3 =26.97

Hence, the Original Selling Price is $26.97

(b)

To determine

To calculate: The New Markdown percent, for given, amount of Markdown is $17.98

(c)

To determine

The more profitable offer to the store, for given, Buy 2, Get 1 Free offer and Buy 3, Get 2 offer.

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