Question

A floor lamp originally cost $44.50. Over a period of two months, it underwent the following changes in price. 62% Markup 15% Markdown 18% Markup 20% Markup 45% Markdown What is the final price of the floor lamp? Round all dollar values to the nearest cent. a. $62.30 b. $47.72 c. $35.60 d. $24.48

Answer 1

$44.50+62%-15%+18%+20%-45%=$47.72 so letter b is your answer

Answer 2

We have to find the final price of the floor lamp after all changes in price.
If the price changes 62% Markup we will multiply previous price by 1.62
( 100% + 62% = 162% = 1.62 ). Also for 15% Markdown we will multiply it by 0.85 ( 100% - 15% = 85% = 0.85 ) and so on:
$44.50 * 1.62 * 0.85 * 1.18 * 1.20 * 0.55 = $47.72
Answer:
B. $47.72