DeWitt Company sells a kitchen set for $330. To promote July 4, DeWitt ran the following advertisement:

Beginning each hour up to 4 hours we will mark down the kitchen set 10%. At the end of each hour, we will mark up the set 1%.

Assume Ingrid Swenson buys the set 1 hour 50 minutes into the sale.
What will Ingrid pay? (Round your answer to the nearest cent.)

$269.97

Explanation:

The computation of the Ingrid salary is shown below:

= Sale value of a kitchen set × markdown percentage × markup percentage × markdown percentage

= $330 × 90% × 101% × 90%

= $269.97

The markdown percentage is

= 100% - 10%

= 90%

And, the markup percentage is

= 100% + 1%

= 101%

We assume the sale is 100%

u = 30

continuing your method

= +

subtract from both sides

= - thus

= -

= ⇒ u = 30