Price markup quesion

Question

A designer clothing store bought suits for $455. The markup is 75% of the cost price.

a. What is the dollar amount of the markup?

b. What is the selling price?

c. What is the rate of markdown if the suit is put on sale for $699?

Answer 1

The designer clothing store-bought suits for $455 and marked up the cost by 75% ($455 + $455 x 0.75). The dollar amount of the mark-up is $455 x 0.75, $341.25. The selling price is $455 + $341.25, $796.25. If the suit is marked down and put on all for $699, then $699 = $796.25 - $796.25r is the rate, 97.25/796.25 or 12.213%.

Answer 2

$455 times 75% = $341.25= the markup

selling price = 455+341.25 = $796.25

If it goes on sale for $699, the markdown from $796.25 to $699 = $97.25. the rate or percentage of the markdown = 97.25/796.25 = about 12.21 %