Morgans Department Store mailed out 15 off coupons for its 20th Anniversary Sale The coupons may be used for any products in the store For items already on sale, the coupon applies to the sale price a What price would a coupon holder pay for a bedspread (regular price $295) already on sale at 20 of...

Given S 295 instore markdown 20 coupon di ...

Morgans Department Store mailed out 15%-off coupons for its 20th Anniversary Sale. The coupons may be used

Question:

Morgan’s Department Store mailed out 15%-off coupons for its 20th Anniversary Sale. The coupons may be used for any products in the store. For items already on sale, the applies to the sale price.
a. What price would a coupon-holder pay for a bedspread (regular price $295) already on sale at 20% off?
b. What single rate of markdown would have the same effect as the two price reductions?
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...