**Problem Statement:**An item is originally priced to sell for $85 and is marked down 40%. A customer has a coupon for an additional 5%. What is the total percent reduction and the final selling price?---**Questions:**1. The total percent reduction is []%.2. The final selling price is $[].---**Explanation:**Let's calculate the total percent reduction and the final selling price step-by-step.1. **Calculating the 40% markdown:** - Original price = $85 - 40% of $85 = 0.40 * 85 = $34 - Discounted price after 40% markdown = $85 - $34 = $512. **Applying the additional 5% coupon:** - 5% of $51 = 0.05 * 51 = $2.55 - Final price after additional 5% reduction = $51 - $2.55 = $48.453. **Calculating the total percent reduction:** - Total reduction amount = Original price - Final price = $85 - $48.45 = $36.55 - Total percent reduction = ($36.55 / $85) * 100 ≈ 43%**Answers:**- The total percent reduction is 43%- The final selling price is $48.45

Introduction: If any discount is given on the selling price then new selling price is derived after…

An item is originally priced to sell for $85 and is marked down 40%. A customer has a coupon for an additional 5%. What is the total percent reduction and the final selling price? The total percent reduction is %. The final selling price is $

An item is originally priced to sell for $85 and is marked down 40%. A customer has a coupon for an additional 5%. What is the total percent reduction and the final selling price? The total percent reduction is %. The final selling price is $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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