Question

during a clearance sale, Vela's department store reduced the price of its sport shirts from 400 pesos to 299.95 pesos each. what percent of markdown was the consumer being offered?

Answer 1

Price decreased from 400 to 299.95

We can say,

Old Price = 400

New Price = 299.95

We can use the following formula to find the percentage change (in this case, markdown):

`p=\frac{\text{New}-\text{Old}}{\text{Old}}*100`

Where

p is the percentage change

New is the New Price

Old is the Old Price

Let's substitute the information we know and find out the answer. Shown below:

`\begin{gathered} p=\frac{\text{New}-\text{Old}}{\text{Old}}*100 \\ p=(299.95-400)/(400)*100 \\ p=-25.0125 \end{gathered}`

Rounding our answer to 2 decimal places, we can say that the customers are offered 25.01% markdown on the price of sports shirt.

Answer