SOLUTION: At the beginning of March, a store bought a silver coat rack at a cost of $64 and marked it up 25%. At the end of the month, the silver coat rack had not sold, so the store marked

Question 1021509: At the beginning of March, a store bought a silver coat rack at a cost of $64 and marked it up 25%. At the end of the month, the silver coat rack had not sold, so the store marked it down 45%. What was the discounted price?
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
I will assume that the mark up was on cost (and not on the selling price).
==> the selling price was 1.25*64 = $80.
==> the discounted price is 80*(1-0.45) = 80*0.55 = $44.
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