Question

In a sale, the price of a computer is reduced by $124. The sale price is $1,394. Find the marked price (original price) and the rate of the discount. Round the discount rate to the nearest tenth of a percent if necessary

Answer 1

Easy,

$1394+$124=$1518

This is the original selling price, but $194 was taken off, resulting in $1394.

Now to find Percent Markdown, use this formula:

Percent Markdown= $\frac{Markdown Amount}{Selling Price} *100$

To find Markdown:

Markdown=Original Selling Price-Reduced Price

Now plug in what you have.

Markdown=$1518-$1394=
M=124

As we already knew, the Markdown is 124.

Now,

Percent Markdown= $\frac{124}{1394} *100$
PM=0.088952654*100
PM=8.9 (rounded)

Thus, the percent increase, is 8.9%.