Question

In October, a hardware store purchased snow shovels for $8 each. The original markup was 50% based on the selling price. In December, the store had a sale and marked down the shovels by 20%. By January 1, the sale was over and the shovels were marked up 15%. In March, the store held a clearance sale of all winter tools by having a final markdown of 60%. What was the final selling price of the shovels?

Answer 1

To start, note the original selling price is $8. Now, the first markup is 50%. So, what is 50% of $8?