Question

8. A furniture shop sells sofas for $880. If the shop wanted to offer the lower price of $640, what rate of markdown would it have to offer?

Answer 1

Answer:

The rate of markdown it would have to offer is 27.3%.

Step-by-step explanation:

The original price of sofa was, OP = $880.

The new price of sofa is, NP = $640

The change in price is:

$Change=OP-NP\\=880-640\\=240$

The rate of markdown offered by the shopkeeper is:

$Rate\ of\ markdown=\frac{Change\ in\ Price}{Orignal\ Price}\times100 \\=\frac{240}{880}\times100\\ =0.27273\times100\\\approx27.3\%$

Thus, the rate of markdown offered by the shopkeeper is 27.3%.