   Chapter 8.III, Problem 2RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### 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 2. Sneakers $53.88________ _______$37.50 _______

To determine

To calculate: The amount of Markdown and Markdown percent, for given, Original Selling Price is $53.88 and Sale Price is$37.5.

Explanation

Given Information:

The Original Selling Price is $53.88 and Sale Price is$37.5.

Formula used:

The amount of Markdown can be calculated using the following equation:

Markdown=Original Selling PriceSale Price or MD=OrigSale

The Markdown Percent can be calculated using the following equation:

Markdown%=MarkdownOriginal Price or MD%=MDOrig

Calculation:

Consider the provided data, Original Selling Price $53.88 and Sale Price$37.5:

Assume, Orig=$53.88 and Sale=$37.50

The amount of Markdown of Sneakers is:

MD=OrigSale

Substitute Orig=\$53

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