Question

At the beginning of March, a store bought a balance beam at a cost of $328 and marked it up 175%. At the end of the month, the balance beam had not sold, so the store marked it down 50%. What was the discounted price?

Answer 1

After marking up the balance beam by 175% to $902, the store reduced the price by 50%, resulting in a discounted price of $451.

The store originally marked up a balance beam they bought for $328 by 175%. To find the selling price after the markup, we can calculate this as follows:

Markup amount = Original Cost × Markup Percentage
Markup amount = $328 × 1.75
Markup amount = $574

Therefore, the marked-up price = Original Cost + Markup Amount = $328 + $574 = $902.

At the end of the month, the balance beam was marked down 50%. The discount amount = Marked-up Price × Discount Percentage. Thus:

Discount amount = $902 × 0.5
Discount amount = $451

The discounted price is then: Marked-up Price - Discount Amount = $902 - $451 = $451.

after the store marked down the balance beam by 50%, the discounted price was $451.