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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
5. 1 yd carpet $24.66 40%

To determine

To calculate: The original selling price and amount of markdown if markdown percent is 40% and the sale price is $24.66.

Explanation

Given Information:

The markdown percent of 1 yd carpet is 40% and the sale price is $24.66.

Formula used:

The original selling price can be calculated using the following equation:

Original selling Price=Sale Price100%Markdown percent

The markdown percent can be calculated using the following equation:

Markdown=Original Selling PriceSale Price

Calculation:

Consider the provided data,

The markdown percent of 1 yd carpet is 40% and the sale price is $24.66.

So, Markdown percent=40% and Sale price=$24.66.

The original selling price can be calculated using the following equation,

Original selling Price=Sale Price100%Markdown percent

Substitute Markdown percent=40% and Sale price=$24.66 in the above formula,

Original selling Price=Sale Price100%Markdown percent=24

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