A suit coat that is marked down 35% has a sale price of $292.50. Use the sale price
formula to find the regular price of the suit coat. Round to the nearest cent.
Price(1-.65)=292.50
To find the regular price of the suit coat, we'll use the sale price formula:
Regular price = Sale price / (1 - Discount percentage)
In this case, the sale price is given as $292.50, and the discount percentage is 35%. So we can substitute these values into the formula:
Regular price = $292.50 / (1 - 0.35)
To compute this, we first calculate the value inside the parentheses:
Regular price = $292.50 / 0.65
Then, we divide the sale price by 0.65 to get the regular price:
Regular price = $450
Therefore, the regular price of the suit coat is $450.