Fred purchased an item for $15.00. Fred sees the same item a week later on sale for $12.00. What percentage has the item been marked down from what Fred paid? Choose the correct answer:
A) 3 B) 5 C) 15 D) 20 E) 30
F.P.=15   S.P.=12   markdown is (1-(S.P./R.P.))*100=(1-(12/15))*100= 
<gadget id="calculator">(1-(12/15))*100</gadget>
<output>20</output>
20%   ANSWER:20
<result>D</result>
Fred purchased an item for $15.00. Fred sees the same item a week later on sale for $12.00. What percentage has the item been marked down from what Fred paid?