A car that regularly sells for $29,600 has been marked down to $22,100. What is the approximate percentage of the discount?
Explanation
Answer: C - First, determine the amount of the markdown in dollars (29,600 - 22,100 = 7,500). Then, divide the total markdown of $7,500 by the original price of $29,600, which results in 0.2533. Move the decimal point two places to the right, to determine that the markdown is a little over 25%.
Key takeaway: When working with markdowns, markups, and percentages in general, be aware of the quickest ways to calculate.
Also, remember that to change a decimal to a percent, move the decimal 2 places to the right, and add a percent sign. To change a percent to a decimal, move the decimal 2 places to the left, and remove the percent sign. If there is no decimal point, it is understood to be at the end of the number.
