Mr. Vacuum obtains vacuum cleaners for $720 less 33 1/3% and 15%. A demonstration unit regularly priced at $750 was sold for $450. The shop’s overhead is 22% of cost.
a. What was the markdown rate on the vacuum cleaner?
b. What was the profit or loss on the sale of the demonstrator?
c. What rate of markup on cost was realized at the reduced price?