Question

The original price of a car was $28,500. Its current price is $25,875. What ratio can be used to calculate the percent markdown that has taken place in the car's price? Represent the ratio as a fraction.

Answer 1

To calculate the percent markdown of the car's price, you can use the following ratio:

\[
\frac{\text{Original Price} - \text{Current Price}}{\text{Original Price}}
\]

In this case, the original price of the car is $28,500 and the current price is $25,875. The markdown amount is:

\[
\text{Original Price} - \text{Current Price} = 28,500 - 25,875 = 2,625
\]

Now, substituting the values into the ratio:

\[
\frac{2,625}{28,500}
\]

So the ratio that can be used to calculate the percent markdown is:

\[
\frac{2,625}{28,500}
\]

This fraction can then be converted into a percentage by multiplying by 100.