Answer:
The current price of the TV is $515.63
Step-by-step explanation:
To find the marked-up price, we use a proportion.
[tex]\frac{125}{100}[/tex] = [tex]\frac{x}{550}[/tex] ---[tex]\frac{125}{100}[/tex] is 125%, or a 25% markup
100x = 68750 --- cross multiply the fractions
x = 687.5 --- divide both sides by 100
To find the new marked down price, we use another proportion.
[tex]\frac{75}{100}[/tex] = [tex]\frac{x}{687.5} [/tex]
100x = 51562.5 --- cross multiply the fractions
x = 515.625 --- divide both sides by 100
x = 515.63 --- round to nearest hundredth for money
The current price of the TV is $515.63
