Markdown Percent

[lance7tour]

DeWitt Co sells a kitchen set for $475. to promote JUly 4, DeWitt ran the following ad:

- beginning each hr up to 4 hrs we will mark down the kitchen set 10%. at the end of each hr, we will mark up the set 1%.

Assume Ms Swanson buys the set 1 hr 50 min into the sale. what will Ms. Swanson pay? Round each calculation to the nearest cent. What is the markdown percent? Round to the nearest hundredth percent.

Maybe am understanding the prob wrong but I get 9%.

 

[davewillis2010]

I get:

475 * 100-.10 =
475 * .90 = 427.50
427.50 * 100+.01 =
427.50 * 1.01 = 431.775

markdown % = .091 or nearest hundredth percent 9.10