Question

A sporting goods store purchased a snowboard and marked it up 25% from the original cost of $120. Then, wanting to make room for summer inventory, the store placed the snowboard on sale for 70% off. What was the price after the discount? $

Answer 1

The price after the discount was $45.

When the sporting goods store bought the snowboard and marked it up by 25%, the price became:

= Original cost x ( 1 + markup percentage)

= 120 x ( 1 + 25%)

= 120 x 1.25

= $150

The snowboard was then discounted by 70%, the new price becomes:

= Current price x ( 1 - discount rate)

= 150 x ( 1 - 70%)

= 150 x 30%

= $45

In conclusion, the price after the discount was $45.

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