Question

Original price of a product is \[\$ 279.99\], Markdown is \[75\% \]. What is the new price?

Answer 1

Hint: We have to find the new price when the original price is \[\$ 279.99\] and markdown is \[75\% \]. Using this we will find the markdown by finding \[75\% \] of \[\$ 279.99\] i.e., \[\left( {\dfrac{{75}}{{100}} \times \$ 279.99} \right)\]. Then we will subtract this amount from the original price i.e., \[\left[ {\$ 279.99 - \left( {\dfrac{{75}}{{100}} \times \$ 279.99} \right)} \right]\] to find the new price.

Complete step by step answer:
Markdown is a reduction of the product price i.e., the amount by which the selling price is decreased. In other words, markdown is the difference between the original retail price and the actual selling price.
Markdown percentage is a percentage markdown over the cost price of a product to determine the new price of the product.
Given that the original price is \[\$ 279.99\] and the markdown by \[75\% \].
Percent means ‘out of \[100\]’. So, \[75\% \] can be written as \[\dfrac{{75}}{{100}}\].
We have to find \[75\% \] of \[\$ 279.99\], here the word means ‘times’ or ‘to multiply’.
Therefore, we can write
\[ \Rightarrow {\text{Markdown}} = \dfrac{{75}}{{100}} \times \$ 279.99\]
On simplification we get,
\[ \Rightarrow {\text{Markdown}} = \$ 209.99\]
Therefore, the original price is \[\$ 279.99\] and marked down by \[75\% \]. i.e., \[\$ 209.99\].
So, the new price will be equal to markdown subtracted from the old price and i.e.,
\[ \Rightarrow {\text{New price}} = \$ 279.99 - \$ 209.99\]
On simplification we get,
\[ \Rightarrow {\text{New price}} = \$ 70.00\]
Therefore, the new price is \[\$ 70.00\].

Note:
A percentage is a number or ratio expressed as a fraction of \[100\] and often denoted using the percent sign, \['\% '\]. If we have to calculate the percentage of a number then we will divide the number by whole i.e., \[Percentage = \dfrac{{parts}}{{whole}} \times 100\% \]. Also, it is a dimensionless number and has no unit of measurement.