Find the discount rate or markup rate. 31. \( \$ 24 \) table price increased to \( \$ 25.44 \)

To find the markup rate, you can use the formula: \(\text{Markup Rate} = \frac{\text{New Price} - \text{Original Price}}{\text{Original Price}} \times 100\). So here, it would be \(\frac{25.44 - 24}{24} \times 100 = 6\%\). This means that the table price was increased by 6%. If you want to calculate the discount rate from a higher original price to a lower price, you would invert the process by using the same formula but for a decrease. But in this case, we’re focusing on markup, so let’s celebrate that 6% increase! It's pretty common in retail to see such markups, keeping things fresh and trendy.