Question

A car lot owner is trying to get rid of this year's inventory to make room for the new vehicles. He paid $25,599 for a red truck. If he sells it to a customer for $22,000, what mark down percentage did he use?

Answer 1

14%

Explanation:

Step one

given data

Cost price of vehicle= $25,599

Selling price of vehicle= $22,000

Required

The percentage discount in the price

Step two:

% discount= cost price-selling price/cost price*100

% discount= 25,599-22,000/25,599*100

% discount= 3599/25,599*100

% discount= 0.140*100

% discount= 14%

The mark down percentage use is 14%