Question

The men's department had sales of $60,000 for December. During the month, the buyer reduced prices of 38 suits from $695 to $445 and that of 20 suits from $550 to $287. What was the markdown percent for the month?A. 24.6%B. 25%C. 26.3%

Answer 1

First, let's calculate the decrease in each product:

`\begin{gathered} suit\text{ 1}:\\ \\ 695-445=250\\ \\ \\ \\ suit\text{ 2}:\\ \\ 550-287=263 \end{gathered}`

Now, let's calculate the absolute markdown:

`38\cdot250+20\cdot263=14760`

Then, dividing this amount by the sales for December, we have:

`(14760)/(60000)=0.246=24.6\%`

Therefore the correct option is A.