A wholesaler gives trade discounts 30%, 11% and 3% to his regular customers. a) Find the single discount equivalent to the given trade discounts. b) If the list price of an item is RM320, find the net price.

A wholesaler gives trade discounts 30%, 11% and 3% to his regular customers. a) Find the single discount equivalent to the given trade discounts. b) If the list price of an item is RM320, find the net price.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 14MC: A customer pays on credit for $1,250 worth of merchandise, terms 4/15, n/30. If the customer pays...

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Question

A wholesaler gives trade discounts 30%, 11% and 3% to his regular customers.
a) Find the single discount equivalent to the given trade discounts.
b) If the list price of an item is RM320, find the net price.

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