a music store originally purchased a piano at a cost of $892.03 and marked it up 125%. after a few weeks…

a music store originally purchased a piano at a cost of $892.03 and marked it up 125%. after a few weeks, however, the store discounted the piano 50% in order to make room for new merchandise. what was the discounted price? $

a music store originally purchased a piano at a cost of $892.03 and marked it up 125%. after a few weeks, however, the store discounted the piano 50% in order to make room for new merchandise. what was the discounted price? $

Answer

Explanation:

Step1: Calculate the marked - up price

The marked - up percentage is 125% or 1.25 in decimal form. The cost price of the piano is $892.03. The marked - up price $P_1$ is calculated by multiplying the cost price by $(1 + 1.25)$. $P_1=892.03\times(1 + 1.25)=892.03\times2.25$ $P_1 = 892.03\times2.25=2007.0675$

Step2: Calculate the discounted price

The discount percentage is 50% or 0.5 in decimal form. The discounted price $P_2$ is calculated by multiplying the marked - up price by $(1 - 0.5)$. $P_2=P_1\times(1 - 0.5)=2007.0675\times0.5$ $P_2 = 1003.53375\approx1003.53$

Answer:

$1003.53$