Dominic went to the Car dealer to buy a car, He wanted the same car that his friend Barbara had bought the day before, which had a sticker price of Php850, 000. The salesman said he could give discount and ordered Dominic a significantly reduced price. However, Dominic knew that Barbara had received a 20% discount, and the salesman offered him only a 10% discount. When Dominic emphasized that his friend had received a 20% discount the day before, the salesman took another 5% of the 10% discounted price. Dominic was satisfied with the new price and bought the car, thinking he had paid the same price as Barbara. Was he right? Did they both pay the same price?
Dominic went to the Car dealer to buy a car, He wanted the same car that his friend Barbara had bought the day before, which had a sticker price of Php850, 000. The salesman said he could give discount and ordered Dominic a significantly reduced price. However, Dominic knew that Barbara had received a 20% discount, and the salesman offered him only a 10% discount. When Dominic emphasized that his friend had received a 20% discount the day before, the salesman took another 5% of the 10% discounted price. Dominic was satisfied with the new price and bought the car, thinking he had paid the same price as Barbara. Was he right? Did they both pay the same price?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter4: Gross Income
Section: Chapter Questions
Problem 18P
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Dominic went to the Car dealer to buy a car, He wanted the same car that his friend Barbara had bought the day before, which had a sticker price of Php850, 000. The salesman said he could give
discount and ordered Dominic a significantly reduced price. However, Dominic knew that Barbara had received a 20% discount, and the salesman offered him only a 10% discount. When Dominic emphasized that his friend had received a 20% discount the day before, the salesman took another 5% of the 10% discounted price. Dominic was satisfied with the new price and bought the car, thinking he had paid the same price as Barbara. Was he right? Did they both pay the same price?
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