Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth percent.
| Item | Original Selling Price | Amount of Markdown (in $) | Sale Price (in $) | Markdown Percent |
| --------- | ----------------------- | -------------------------- | ------------------ | ---------------- |
| CD Player | $262.95 | $ | $0 | 30% |
Answer (2)
Define the original price P = $262.95 and markdown percent M = 30% = 0.30 .
Calculate the markdown amount using the formula A = M × P .
Substitute the values: A = 0.30 × 262.95 = 78.885 .
Round the result to the nearest cent: A = $78.89 .
Explanation
Understanding the Problem We are given the original selling price of a CD player as $262.95, the sale price as $0, and the markdown percent as 30%. We need to find the amount of markdown in dollars.
Defining Variables Let the original selling price be P = 262.95 . Let the sale price be S = 0 . Let the markdown percent be M = 30% = 0.30 . Let the amount of markdown be A .
Stating the Formula The markdown percent is calculated as M = P A . Therefore, A = M × P .
Calculating the Markdown Amount We calculate A = 0.30 × 262.95 = 78.885 . Rounding to the nearest cent, we get A = 78.89 .
Finding the Answer The amount of markdown is $$78.89.
Examples
Imagine you are shopping for clothes and see a shirt that originally costs $30 but is marked down by 20%. This problem helps you calculate the actual discount amount, which in this case would be $6 (20% of $30). Understanding markdown calculations is useful for making informed purchasing decisions and budgeting effectively during sales and promotions. This skill applies to various retail scenarios, helping you determine the true cost savings and manage your finances wisely.
The amount of markdown for the CD player is $78.89, and the sale price after the markdown is $184.06.
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