A piece of jewellery costing $150 was marked up by 40% of the selling price. During the stores silver jubilee sale, the selling price was reduced to $175. What was rate of markdown during the sale?

Question

Quizplus · Accepted Answer

The selling price before the sale was $150 + (40% of $150) = $150 + $60 = $210. The markdown to reduce the selling price to $175 from $210 is $35. The rate of markdown is ($35/$210) * 100% = 16.7%.

A Piece of Jewellery Costing $150 Was Marked Up by 40