Explanation Given Information: Assume, Selling Price = $ 100 , the first markdown percentage is 20 % , and the second markdown percentage is $ 40 . Formula used: The net decimal equivalent can be computed as: Net decimal equivalent = product of decimal equivalents of the complements of each discount rate The net price (new/reduced price) can be computed as: Net price = net decimal equivalent × original price The markup can be computed as: Markup = Markup% ( S ) Or M = M % ( S ) The reduced price (new selling price) can be computed as: Reduced Price = Original Selling Price − Markdown Or N = S − M Calculation: Consider the provided data, The compliment of markdown based on the selling price is ( 1 − 20 % ) that is 80 % and the compliment of markdown based on the second time reduced percentage is ( 1 − 40 % ) that is 60 % The net decimal equivalent can be calculated by using the formula: Net decimal equivalent = product of decimal equivalents of the complements of each discount rate Substitute, the compliment of markdown based on the selling price = 80 % and the compliment of markdown based on the second time reduced percentage = 60 % in Net decimal equivalent. Net Decimal Equivalent = ( 0 .80 ) × ( 0 .60 ) = 0.48 The formula to calculate the reduced price is: Reduced Price = Net Decimal Equivalent * Original Selling Price Reduced Price = ( 0 .48 ) × ( $100 ) = $48 Now, consider the provided data to determine the series of computation: The markup can be computed as: M = M % ( S ) Substitute, M % = 20 % and S = $ 100 in M = M % ( S ) M = M % ( S ) = 20 % ( $ 100 ) = 0

11th Edition

ISBN: 8220103632072

Author: NOBLE

Publisher: Pearson Education (US)

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Chapter 9, Problem 8CT

To determine

To calculate: The final reduced price in a series markdown which can be found by two methods so either by using the net decimal equivalent or by using a series of computation.

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Chapter 9, Problem 7CT

Chapter 9, Problem 9CT

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