A store marks up the price of a lounge by 80%. What percentage discount would bring the price of the lounge suite back to its original price?
x(1.8)(r) = x
1.8r = 1
r = 1/1.8 = .555..
so the discount rate should be .444... or appr 44.4%
e.g. suppose the item cost $100
after markup, selling price = 180
to end up with $100, we have to discount it $80
80/180 = .44444
notice 1 - .4444... = .555...
To find the percentage discount that would bring the price of the lounge suite back to its original price, we need to first calculate the original markup percentage.
Let's assume the original price of the lounge suite is $100.
The store marked up the price of the lounge suite by 80%, which means the new price is $100 + ($100 * 0.8) = $180.
Now, we need to find the percentage discount that would bring the price back to the original $100.
The discount is calculated as the difference between the new price and the original price: $180 - $100 = $80.
To find the percentage discount, we divide the discount by the original price and multiply by 100: ($80 / $100) * 100 ≈ 80%.
Therefore, a discount of approximately 80% would bring the price of the lounge suite back to its original price.
To find the percentage discount that would bring the price of the lounge suite back to its original price, we need to understand the relationship between the markup and the discount.
Let's assume the original price of the lounge suite is "x".
If the store marks up the price by 80%, the new price would be (x + 0.8x) = 1.8x.
Now, we need to find the discount that would make the price return to "x".
To do this, we need to find the percentage discount on the marked-up price and subtract it from the marked-up price.
The formula for the discount percentage is:
Discount % = (Discount / Marked-up Price) * 100
Let's substitute our values into the formula:
Discount % = (1.8x - x) / (1.8x) * 100
Simplifying this expression:
Discount % = (0.8x / 1.8x) * 100
Dividing both the numerator and denominator by 0.8x:
Discount % = (1 / 1.8) * 100
Discount % = 55.56%
Therefore, a discount of approximately 55.56% would bring the price of the lounge suite back to its original price.