To solve, the key word here is "marked down". This means that it is going down by 60%. Subtract 100%-60% which is 40%. Now, always remember that 1% = 0.01. SO 40% will be 0.4.
Because you are trying to find the value of 40% of the price (100 has been marked down by 60 to give 40 100-60=40) so you can just do 47.25x0.4= 18.9. so your answer is $18.90
