Question

Patricia's Bookstore sold a book that originally cost 450 pesos to 300 pesos. What was the markdown and the markdown rate?

Answer 1

It is given that the original cost is 450 and the selling price is 300.

The markdown is given by:

`450-300=150\text{ pesos}`

So the markdown in 150 pesos.

The markdown rate is calculated as follows:

`\begin{gathered} \text{ Selling price=(1-Markdown rate)(Original price)} \\ 300=(1-x)(450) \\ (300)/(450)=1-x \\ x=1-(300)/(450) \\ x=(150)/(450) \\ x=(1)/(3) \\ x=0.3333 \end{gathered}`

The markdown rate is 0.3333 or 33.33%.