Question

In November, the seafood department in a grocery store marked 250 8-pound cases of lobster tails down from their original price of $75 to $58. The November markdown was very successful, and all of the 8-pound cases of lobster tails were sold at $58 each. Calculate the total markdown dollars for the sale.

Answer 1

Total mark down Dollars for sales =$4,250

Step-by-step explanation:

The markdown is the discount given expressed as a percentage of the original sales price.

The total sales value at the original price = 250× 75 = 18,750

Discount per lobster in Dollars = 75-58 = $17

Mark down (%) = 17/75×100 = 22.67%

Total markdown Dollars for sales = 22.67%× 18,750= $4,250

Total mark down Dollars for sales =$4,250