Question

The popular video game retailer, Games for Less, is having a sale on the video game ‘Call of Modern Minecraft.” The game was selling for $49.99 last week, but is now on sale for $38.97. What is the percent markdown? Round to the nearest percent.

Answer 1

22%

Explanation:

percent of change formula: (new value - old value) / old value

(38.97 - 49.99) / 49.99

-11.02 / 49.99 = -0.22 (negative because new to old is a decrease)

Answer 2

The percent markdown is 5.50%