   Chapter 8.III, Problem 5RE ### 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 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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