Question

A watch that originally cost $110 has been marked down to $88. What was the percent of the markdown ?

12%

10%

25%

20%

Answer 1

20%

Explanation:

When calculating percents, it is important to divide by the initial value, not the end value. The formula for calculating percents is

`(finalvalue - inititalvalue)/(initialvalue) * 100`

Plugging our values into this formula, we get

`(88-110)/(110) * 100 = 20` as our answer.