SOLUTION: Before Christmas an item was marked up 20%. What percent will the new price have to be marked down in order to sell for the original price?
Algebra.Com
Question 673418: Before Christmas an item was marked up 20%. What percent will the new price have to be marked down in order to sell for the original price?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Before Christmas an item was marked up 20%. What percent will the new price have to be marked down in order to sell for the original price?
-----
Let original price be "x".
----
After mark up the price was 1.2x
-------
Equation to get back to original price:
k(1.2x) = x
k = 1/1.2
k = 10/12
k = 0.8333 =
-----
It will have to be marked down 100-0.8333 = 16 2/3%
===========================
Cheers,
Stan H.
===========================
RELATED QUESTIONS
An item for sale is marked down 20%. By what percent must it then be marked
up in order... (answered by palanisamy)
An item for sale is marked down 20%. By what percent must it then be marked
up in order... (answered by nerdybill,Alan3354)
In a store, a $100 item was marked down by 20% for a sale. After the sale, the... (answered by Theo)
A merchant was selling an item at a certain price, and then markes it down 20% for a... (answered by josmiceli)
A salesperson bought an item for Tk. X and marked it up 50%. However, he could not sell... (answered by ikleyn)
plzzz sove this.....
An item that costs a retailer $60.00 is normally sold for $98.... (answered by josmiceli)
A shopkeeper offers a 25% discount on the marked price of an item. In oder for the item... (answered by fractalier)
A jewelry store called clear ice buys 1 carat diamond earrings for $800 a pair. The... (answered by greenestamps)
A microwave oven cost the appliance warehouse $1413.00 and was initially marked up by 55% (answered by Glaviolette)