Question

The wholesale cost of a desk is $490. The original markup was 69% based on selling price. Find the final sale price after the following series of price changes: a markup of 35%, a markdown of 14%, and a markdown of 34%. (Round each intermediate selling price to the nearest cent.)

Answer 1

To find the final sale price after a series of price changes, we need to calculate the selling price after each change. After a markup of 35%, a markdown of 14%, and another markdown of 34%, the final sale price is $375.82.

Step-by-step explanation:

To find the final sale price, we need to calculate the selling price after each price change.

Step 1: Find the selling price after the first markup of 35%.

• Original selling price = Wholesale cost + Markup
• Original selling price = $490 + (35% of $490)
• Original selling price = $490 + ($171.5)
• Original selling price = $661.5

Step 2: Find the selling price after the first markdown of 14%.

• Selling price after first markdown = Original selling price - (14% of Original selling price)
• Selling price after first markdown = $661.5 - (14% of $661.5)
• Selling price after first markdown = $661.5 - ($92.41)
• Selling price after first markdown = $569.09

Step 3: Find the selling price after the second markdown of 34%.

• Final selling price = Selling price after first markdown - (34% of Selling price after first markdown)
• Final selling price = $569.09 - (34% of $569.09)
• Final selling price = $569.09 - ($193.27)
• Final selling price = $375.82

Therefore, the final sale price after the series of price changes is $375.82.