Answer:
Retail Price of the item is $ 19.99 (approx.)
Step-by-step explanation:
Given:
Original Price of an item = $ 29.99
Markdown Percentage = [tex]33\frac{1}{3}[/tex] % = [tex]\frac{33\times3+1}{3}=\frac{100}{3}[/tex] %
We need to find: Retail Price
We know that Retail price = Original Price - Markdown amount
Markdown amount = [tex]\frac{\frac{100}{3}}{100}\times29.99[/tex]
= [tex]\frac{100}{300}\times29.99[/tex]
= [tex]\frac{2999}{300}[/tex]
= $ 10 (approx.)
So, Retail price = 29.99 - 10 = $ 19.99
Therefore, Retail Price of the item is $ 19.99 (approx.)
