SOLUTION:
A television set costing $950 was marked up by 60% of the selling price. During a sale, the item was reduced to $1,662.50. What was the rate of markdown during the sale?
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A television set costing $950 was marked up by 60% of the selling price. During a sale, the item was reduced to $1,662.50. What was the rate of markdown during the sale?
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Question 1115986:
A television set costing $950 was marked up by 60% of the selling price. During a sale, the item was reduced to $1,662.50. What was the rate of markdown during the sale? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! A television set costing $950 was marked up by 60% of the selling price.
let x = the selling price
x = 950 + .6x
x - .6x = 950
.4x = 950
x = 950/.4
x = $2375 is the selling price
During a sale, the item was reduced to $1,662.50.
2375 - 1662.5 = 712.50 amt marked down
What was the rate of markdown during the sale?
712.5/2375 * 100 = 30% marked down
