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?
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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?
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Let original price be "x".
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After mark up the price was 1.2x
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Equation to get back to original price:
k(1.2x) = x
k = 1/1.2
k = 10/12
k = 0.8333 =
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It will have to be marked down 100-0.8333 = 16 2/3%
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Cheers,
Stan H.
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