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.

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Answer 1

The percent markdown can be calculated using the formula:

\[ \text{Percent Markdown} = \frac{\text{Original Price} - \text{Current Price}}{\text{Original Price}} \]

In this case, the original price is $28,500 and the current price is $25,875. The ratio that represents the markdown can be expressed as:

\[ \frac{28,500 - 25,875}{28,500} \]

This simplifies to:

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

Thus, the fraction that can be used to calculate the percent markdown is:

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