Question

A floor lamp originally cost $44.50. Over a period of two months, it underwent the following changes in price.

62%
Markup
15%
Markdown
18%
Markup
20%
Markup
45%
Markdown

What is the final price of the floor lamp? Round all dollar values to the nearest cent.
a.
$62.30
b.
$47.72
c.
$35.60
d.
$24.48


Please select the best answer from the choices provided

A
B
C
D

Answer 1

Multiply the price by each successive change:
44.50 × 1.62 × 0.85 × 1.18 × 1.20 × 0.55
= 44.50 × 1.0724076 ≈ $47.72.

Answer: B.