Solve the problem. Round rates to the nearest whole percent and dollar amounts to the nearest cent.
-The Jewelry Store priced its entire stock of sterling silver at $1,394. The original price was $2,022. Find the percent of markdown on the original price.
A)31%
B)69%
C)45%
D)145%

Question

Quizplus · Accepted Answer

To find the percent of markdown, we need to find the difference between the original price and the sale price, divide that by the original price, and then multiply by 100 to get a percentage.

Markdown = Original Price - Sale Price
Markdown = $2,022 - $1,394 = $628

Percent Markdown = (Markdown / Original Price) x 100%
Percent Markdown = ($628 / $2,022) x 100%
Percent Markdown = 31%

Therefore, the percent of markdown on the original price is 31%, which is closest to choice letter A. To find the percent of markdown on the original price, we need to find the difference between the original price and the sale price and then find the percent difference.

Original price = $2,022
Sale price = $1,394
Difference = $2,022 - $1,394 = $628

Percent difference = (difference/original price) x 100%
= ($628/$2,022) x 100%
= 31.06%

Rounding to the nearest whole percent, we get the answer as 31%. Therefore, the best choice is A).

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