The Price of an IPod Dropped from $299

question 89

Multiple Choice

The price of an iPod dropped from $299.99 to $180.55. What was the percent decrease in price? (Round to nearest hundredth percent.)

• A)39.82%.
• B)39.81%.
• C)39.80%.
• D)39%.
• E)None of these.

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Definitions:

Credit Policy

Guidelines a company follows to determine credit terms for customers, such as payment period and discounts for early payment.

Restocking Cost

The expenses involved in replenishing inventory or stock.

Fixed Cost

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.