This is the question and below it is what I've got so far....I think I've solved it correctly, but I'm not sure:
A clothing retailer purchased a line of fall leather coats which were priced to sell at $600 each. This price reflected a markup of 45% on the selling price. At the end of the season the retailer had three coats left, which were marked down 25% and sold. What was the retailer's actual percentage markup on the coats that were sold at 25% off? Calculate this percentage both as a percentage of the selling price, and as a percentage of the cost price.
My work:
S = 600
M = .45s = 270
C = 330
M(reduced) = .20s = 120
S(reduced) = 450
ANSWERS:
M/C * 100% = 120/330 = 36.36%
M/S * 100% = 120/600 - 20%
A clothing retailer purchased a line of fall leather coats which were priced to sell at $600 each. This price reflected a markup of 45% on the selling price. At the end of the season the retailer had three coats left, which were marked down 25% and sold. What was the retailer's actual percentage markup on the coats that were sold at 25% off? Calculate this percentage both as a percentage of the selling price, and as a percentage of the cost price.
My work:
S = 600
M = .45s = 270
C = 330
M(reduced) = .20s = 120
S(reduced) = 450
ANSWERS:
M/C * 100% = 120/330 = 36.36%
M/S * 100% = 120/600 - 20%
