percentages/word problem

18) In October, a hardware store purchased snow shovels for $8 each. The original markup was 50% based on the selling price. In December, the store had a sale and marked down the shovels by 20%. By January 1, the sale was over and the shovels were marked up 15%. In March, the store held a clearance sale of all winter tools by having a final markdown of 60%. What was the final selling price of the shovels? (Round to the nearest cent.)

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  1. costprice = 80
    after first markup, SP = 80(1.5)

    after 20% mark down
    = 8(1.5)(.8)

    another 15% markup
    = 8(1.5)(.8)(1.15)

    final markdown of 60%
    = 8(1.5)(.8)(1.15)(.4)
    = 8(.552)
    = 4.42

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