Question

DeWitt Company sells a kitchen set for $345. To promote July 4, DeWitt ran the following advertisement:
"Beginning each hour up to 4 hours we will mark down the kitchen set 12%. At the end of each hour, we will mark up the set 2%".
Assume Ingrid Swenson buys the set 1 hour 25 minutes into the sale.
a. What will Ingrid pay?
b. What is the markdown percent?

Answer 1

Answer:

$296.7

Explanation:

Since the first four hours the kitchen set will have a discount of 12 %, plus another 2 % for the last of each hour.

Ingrid bought it at the 1 hour and 25 min, that means that she could get 12 % for the first hour plus another 2 % because of th end of the first hour.

So it will be:

14 % (345) = $48.3

To the total price: $345 - $48.3 = $ 296.7

Hope this info was useful