The gift shop purchased four sets of Block brand hand-painted stemware expecting to sell all four at the list price of $24.99.Unfortunately,the demand for the stemware was not as high as the owner had anticipated.She was only able to sell one at this price.So,she reduced the price on the other three sets to $16.49 and was able to sell all three sets.Calculate her markdown percentage.

Question

Quizplus · Accepted Answer

The markdown percentage is calculated by finding the difference between the original price and the reduced price, divided by the original price, then multiplied by 100. The original price was $24.99, and the reduced price was $16.49. The difference is $8.50. The markdown percentage is ($8.50 / $24.99) * 100 = 34.02%, which rounds to 34.2%.

The Gift Shop Purchased Four Sets of Block Brand Hand-Painted