SOLUTION: A store charges $280 for a coat. This price is 40 percent more than the amount it cost the store to buy. At the end-of-season sale, the store employees can purchase any remaining c

Question 1010021: A store charges $280 for a coat. This price is 40 percent more than the amount it cost the store to buy. At the end-of-season sale, the store employees can purchase any remaining coats at 30 percent off the store�s cost. How much would it cost an employee to purchase the coat at the sale?
Answer by Miniml1(17) (Show Source): You can put this solution on YOUR website!
For any markdown type of problem, you can just subtract its markdown percentage from 100% then turn that percent number into a decimal number
100%-30%=70%
To turn any percentage into a decimal, move the decimal place the the left by two places.
70%=0.70
To find the new price, just multiply the cost of the item by the leftover percentage that you turned into a decimal.
280*0.70=196
The coat will be $196 at the employee discount rate.
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