Question
A store marks up the price of a lounge by 80%. What percentage discount would bring the price of the lounge suite back to its original price?
Answers
Reiny
x(1.8)(r) = x
1.8r = 1
r = 1/1.8 = .555..
so the discount rate should be .444... or appr 44.4%
e.g. suppose the item cost $100
after markup, selling price = 180
to end up with $100, we have to discount it $80
80/180 = .44444
notice 1 - .4444... = .555...
1.8r = 1
r = 1/1.8 = .555..
so the discount rate should be .444... or appr 44.4%
e.g. suppose the item cost $100
after markup, selling price = 180
to end up with $100, we have to discount it $80
80/180 = .44444
notice 1 - .4444... = .555...