An Item Costing $50 Was Marked Up by 60% of the Selling

question 226

Multiple Choice

An item costing $50 was marked up by 60% of the selling price. During a sale, the item was reduced to $75. What was the rate of markdown during the sale?

• A) 6.25%
• B) 60%
• C) 40%
• D) 50%
• E) 33.3%

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Definitions:

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A legal principle that requires the delivery of goods to be exactly as agreed in the contract without deviation.

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