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The question asks to find the markdown amount and the rate of markdown, given the following information:

- Selling price = $800
- Reduced (new) price = $500

### 1. Markdown Amount:
The markdown amount is the difference between the original selling price and the reduced price.

\[
\text{Markdown Amount} = \text{Selling Price} - \text{Reduced Price}
\]

Substituting the given values:

\[
\text{Markdown Amount} = 800 - 500 = 300
\]

### 2. Rate of Markdown:
The rate of markdown is calculated as the markdown amount divided by the original selling price, expressed as a percentage:

\[
\text{Rate of Markdown} = \left( \frac{\text{Markdown Amount}}{\text{Selling Price}} \right) \times 100
\]

Substituting the values:

\[
\text{Rate of Markdown} = \left( \frac{300}{800} \right) \times 100 = 37.5\%
\]

### Final Answers:
- Markdown amount: **$300**
- Rate of markdown: **37.5%**

Would you like more details or have any questions?

Here are 5 related questions for practice:
1. If the selling price was $1000 and the reduced price was $600, what would be the markdown amount and rate?
2. How would the markdown rate change if the selling price was higher but the markdown amount stayed the same?
3. If a 20% markdown was applied to a $1200 item, what would the new price be?
4. What is the markdown rate if the selling price was $850 and the markdown amount was $170?
5. How can markdowns affect profit margins in retail pricing strategies?

**Tip**: To convert a decimal to a percentage, simply multiply the decimal by 100.

Selling price = $800, reduced (new) price = $500. Find the markdown amount and the rate of markdown.

Learn how to calculate the markdown amount and rate for a product with a selling price of $800 and a reduced price of $500. Detailed step-by-step solution, including the markdown amount of $300 and the markdown rate of 37.5%. Perfect for students in grades 6-9 learning basic arithmetic and percentage concepts.

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