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Markdown Savings

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This summer we had a wonderful two-week holiday in the Cape Cod area. One of the many day trips we took was to Boston to see Filene's and investigate the great deals that can be found in their basement.

Filene's is a department store that sells goods ranging from cheap and inexpensive to very fine and expensive. The basement section is a clearing house for goods which are either seconds or there because the store ordered too many of a particular item.

I found the savings incredible compared to the prices in Canada.

Signs similar to the one below were posted throughout the store. On the back of each price tag was a date. The date on the tag corresponded to the date on the sign, and if your item was dated on or before one of the posted dates you saved that amount.

Markdown Savings
75% 50% 25%
July 12 July 19 July 26

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Assignment

You are to calculate the sale price and the final price for each of the following items. The tax in Boston is 5% and the final price must include the tax. Make sure you include the original price in your solutions.

  1. A shirt with a price tag of $ 21.99 dated July 18
  2. A tie with a price tag of $ 9.99 dated July 13
  3. A watch with a price tag of $ 125.00 dated May 27
  4. A jacket with a price tag of $ 27.99 dated July 24
  5. A pair of socks with a price tag of $ 2.99 dated July 20
  6. A hair pin with a price tag of $ 2.70 dated July 27
  7. A box of Godiva chocolates with a price tag of $ 17.99 dated August 1
  8. A silk shirt with a price tag of $ 79.99 dated July 3

A model for submitting solutions
Student solutions

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Please mail comments and suggestions to Richard Briston
9 January 1996