Math

A clothing retailer purchased a line of fall leather coats which were priced to sell at $600 each. This price reflected a markup of 45% on the selling price. At the end of the season the retailer had three coats left, which were marked down to 25% and sold. What was the retailer's actual percentage markup on the coats that were sold at 25% off? Calculate this percentage both as a percentage of the selling price, and as a percentage of the cost price.

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asked by Anonymous
  1. If the markup was 45% of the selling price, the cost was 55%, so the markup based on cost was 80%.

    So, if the cost was c,
    1.8c = 600
    c = 333.33

    The sale price was 75% of 600, or 450.

    So, the markup was 116.66

    the sale price of 450 is thus a markup of

    50% of cost
    26% of selling price

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    posted by Steve

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