Problem-Solving and Data AnalysisMediumFinal price after a markup and a matching discount
Problem-Solving and Data Analysis practice question
A $60 item is marked up by 15% and then sold at a 15% discount off the marked-up price. What is the final price, in dollars?
Answer: 58.65
60 × 1.15 = 69, and 69 × 0.85 = 58.65.
Common wrong answers
- If you answered 51
- 51 takes 15% off the original 60 only.
- If you answered 60
- 60 assumes the two 15% changes cancel, but the discount is taken from a larger amount.
- If you answered 69
- 69 is the marked-up price before the discount.
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