Each Saturday, a store reduces the price of any unsold item by 10%. If an item was priced at $80, on Saturday of the first week it is marked down to $72. At the end of the second week, it drops to $64.80, and at the end of the third week the price is decreased to $58.32. If this continues for 10 weeks, what should be the selling price for an item that was originally priced at $80 ? Select one: $27.89 $52.11 $8.00 $30.99

Question

Each Saturday, a store reduces the price of any unsold item by  10%. If an item was priced at  $80, on Saturday of the first week it is marked down to  $72. At the end of the second week, it drops to  $64.80, and at the end of the third week the price is decreased to  $58.32. If this continues for 10 weeks, what should be the selling price for an item that was originally priced at  $80 ? Select one:  $27.89  $52.11  $8.00  $30.99

Bytelearn · Accepted Answer

Identify price and markdown:  Step 1: Identify the initial price and the weekly markdown percentage. Initial price = $80 Weekly markdown = 10%Calculate price after 1 week:  Step 2: Calculate the price after the first week. Price after 1 week = Initial price × (1 - markdown percentage) = $80 × (1 - 0.10) = $80 × 0.90 = $72Find price after 2 weeks:  Step 3: Use the price after the first week to find the price after the second week. Price after 2 weeks = Price after 1 week × (1 - markdown percentage) = $72 × 0.90 = $64.80Calculate price after 3 weeks:  Step 4: Continue the pattern to calculate the price after the third week. Price after 3 weeks = Price after 2 weeks × (1 - markdown percentage) = $64.80 × 0.90 = $58.32Determine price after 10 weeks:  Step 5: Apply the same calculation to find the price after 10 weeks. Price after 10 weeks = Initial price × (0.90)^10 = $80 × (0.90)^10 = $80 × 0.3487 = $27.89

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