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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

For the following items, calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.

Original Amount of Markdown
Item Selling Price Markdown Sale Price Percent
1. Fish tank $189.95________$28.50 $161.45 15%_______

To determine

To calculate: The Sale Price and Markdown percent, for given, Original Selling Price is $189.95 and amount of Markdown is $28.5.

Explanation

Given Information:

The Original Selling Price is $189.95 and amount of Markdown is $28.5.

Formula used:

The Sale Price can be calculated using the following equation:

Sale Price=Original Selling PriceMarkdown or Sale=OrigMD

The Markdown Percent can be calculated using the following equation:

Markdown%=MarkdownOriginal Price or MD%=MDOrig

Calculation:

Consider the provided data, Original Selling Price $189.95 and amount of Markdown $28.5:

Assume, Orig=$189.95 and MD=$28.50

The Sale Price is:

Sale=OrigMD

Substitute Orig=$189

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