BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
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Which of these formulas is appropriate to find the markdown where the markdown rate and selling price are given?
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Explanation:
Detailed explanation-1: -What is the markdown price formula? To compute markdown given the original price and the new price, you need to apply the formula: Markdown = Original price-Actual price . For instance, if the original price was $100 and the price the good is actually sold for is $80, then the markdown equals $20.
Detailed explanation-2: -Determine the markdown. Divide the difference between the prices by the actual selling price. Then, multiply this result by 100. The result represents the markdown percentage.
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