Answer:
$1493.49
Step-by-step explanation:
marked price = cost price + markup
= cost price + 100% × cost price = 2×cost price
marked price = 2($995.66) = $1991.32
The discount is 25% of this value, or ...
discount = 25% × $1991.32 = $497.83
Then the discounted price is ...
discounted price = marked price - discount
= $1991.32 -497.83 = $1493.49
The discounted price was $1493.49.
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<em>Additional comment</em>
In terms of multiplying factors, the marked-up price is (1 +100%) = 2 times the original cost. The discounted price is (1 -25%) = 0.75 times the marked-up price. Then the discounted price is ...
cost(2)(0.75) = 1.5·cost = 1.5·$995.66 = $1493.49
