Math Problem Statement
Workwear Station uses a markup on cost of 60% to establish its retail prices. This pricing rule builds in a profit of 22% of cost. What rate of markdown can Workwear Station offer and just break even on the reduced price? (Round your answer to 1 decimal place.)
Rate of markdown
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Percentage Calculations
Retail Pricing
Formulas
S = C * (1 + Markup)
S(reduced) = S * (1  Rate of Markdown)
Rate of Markdown = 1  (1 / (1 + Markup))
Theorems

Suitable Grade Level
College Level (Business/Finance)
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