You convert the percentage into a fraction, multiply this by the sale price, then subtract by this number. Example: Price is $20.00 and the markdown is 20%. First make 20% a decimal by dividing by 100 to get 0.2. Multiply 0.2 by 20 to get 4. Now take 4 and subtract it from 20 to get 16. So a markdown of 20% of a $20.00 item is $16.00