Question

A Best Buy prices it’s total inventory of TomTom portable Global Positioning Systems at $133,509. If the original price of the inventory was $228,284, find the percent of markdown on the original price

Answer 1

The percange of markdown on the original price is given by:

$％\text{ of markdown }=(\frac{\text{ new price}}{\text{ original price}}-1)\cdot100％.$

From the statement, we know that:

• new price = $133,509,

,

• original price = $228,284.

Replacing these values in the formula above, we get:

$％\text{ of markdown }=(\frac{133,509}{228,284}-1)\cdot100％\cong-41.52％\text{.}$

The result is negative because we are dealing with a markdown, and the markdown percentage is 41.52%.

Answer

41.52% to the nearest hundredth.