A hand dryer that previously sold for $32 has been reduced to $26.50. What is the markdown percent? (Round to the nearest whole percent.) 17% 23% 26% 83%
A hand dryer that previously sold for $32 has been reduced to $26.50. What is the markdown percent? (Round to the nearest whole percent.) 17% 23% 26% 83%
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
A hand dryer that previously sold for $32 has been reduced to $26.50. What is the markdown percent? (Round to the nearest whole percent.)
17%
23%
26%
83%
Expert Solution
Step 1
Markdown is the decrease in the sales price to the level at which consumer are willing to pay to buy the product.
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