Step 1: Determine the first markdown.

The kitchen set is priced at $445 initially, and the markdown occurs at the beginning of each hour.

• First hour markdown: $12\%$

The price after the first markdown is:

$\text{Price after 1st markdown} = 445 \times (1 - 0.12) = 445 \times 0.88 = 391.60$

Step 2: Apply the first markup.

At the end of the first hour, the price is marked up by $2\%$.

$\text{Price after 1st markup} = 391.60 \times (1 + 0.02) = 391.60 \times 1.02 = 399.43$

Step 3: Determine the second markdown.

At the beginning of the second hour, another $12\%$ markdown is applied:

$\text{Price after 2nd markdown} = 399.43 \times (1 - 0.12) = 399.43 \times 0.88 = 351.50$

Step 4: Apply the second markup.

At the end of the second hour, a $2\%$ markup is applied again:

$\text{Price after 2nd markup} = 351.50 \times (1 + 0.02) = 351.50 \times 1.02 = 358.53$

Step 5: Ingrid buys the set.

Ingrid buys the set 1 hour and 50 minutes into the sale. This means she buys it after the second markup, which is the price of $358.53.

Final Answer:

Ingrid will pay $358.53 for the kitchen set.

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Markdown Percent:

Now, to calculate the total markdown percentage from the original price:

$\text{Total Markdown} = \frac{445 - 358.53}{445} \times 100 = \frac{86.47}{445} \times 100 \approx 19.43\%$

Final Answer for Markdown Percent:

The markdown percentage is 19.43%.

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Would you like more details, or do you have any questions?

Related Questions:

1. What would the price be if Ingrid bought the set after 3 hours?
2. How much would Ingrid save compared to the original price?
3. What would happen if the markup was 3% instead of 2%?
4. How would the price change if there was no markdown and only a markup?
5. What is the total discount Ingrid received after the two markdowns and markups?

Tip:

Understanding how sequential percentages work (like successive discounts or markups) is essential for solving multi-step pricing problems!