Question

A store originally purchased a refrigerator at a cost of $650.20 and marked it up 50%. After a few weeks, however, the store discounted the refrigerator 70% in order to make room for new merchandise. What was the discounted price?

Answer 1

Explanation:

Step one:

the original price of refrigerator = $650.20

the markup/raise is 50%

the new price after the raise is

= 50/100*650.20

=0.5* 650.20

=325.1

The raise is by $325.1

The new price is $325.1+ $650.20=$975.3

Step two:

there was a discount of 70%

so =(70/100)*975.3

=0.7*975.3

=682.71

The discounted price is $682.71

The new price is 975.3-682.71

=$292.59