Questions: A wholesale company prices its inventory at 119,828. If the original price of the items was 204,710, find the percent of markdown on the original price. The percent of markdown was %. (Round to the nearest whole percent as needed.)

A wholesale company prices its inventory at 119,828. If the original price of the items was 204,710, find the percent of markdown on the original price.

The percent of markdown was %.
(Round to the nearest whole percent as needed.)

Transcript text: A wholesale company prices its inventory at $\$ 119,828$. If the original price of the iterns was $\$ 204,710$, find the percent of markdown on the original price. The percent of markdown was $\square$ $\%$. (Round to the nearest whole percent as needed.)

Solution

Solution Steps

Step 1: Calculate the Markdown Amount

The markdown amount is the difference between the original price and the discounted price: \[ \text{Markdown Amount} = \text{Original Price} - \text{Discounted Price} \] \[ \text{Markdown Amount} = 204,710 - 119,828 = 84,882 \]

Step 2: Calculate the Percent Markdown

The percent markdown is calculated by dividing the markdown amount by the original price and then multiplying by 100: \[ \text{Percent Markdown} = \left(\frac{\text{Markdown Amount}}{\text{Original Price}}\right) \times 100 \] \[ \text{Percent Markdown} = \left(\frac{84,882}{204,710}\right) \times 100 \approx 41.47\% \]

Step 3: Round to the Nearest Whole Percent

Rounding 41.47% to the nearest whole percent gives: \[ \text{Percent Markdown} \approx 41\% \]