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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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Chapter
Section
BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Answer the following questions based on the Leisure Time Industries invoice on the following page.

All-American Sports can purchase sneakers for $450 per dozen less trade discounts of 14/12 from Ideal Shoes. Fancy Footwear is offering the same sneakers for $435 less trade discounts of 18/6. Which supplier offers a lower net price?

Chapter 7, Problem 15AT, Answer the following questions based on the Leisure Time Industries invoice on the following

To determine

To calculate: The lower net price if list price of All American Sports is $450 per dozen less trade discount rates of 14/12.

Explanation

Given Information:

The list price of All American Sports is $450 less trade discount rate of 14% and 12% the list price of Fancy Footwear is $435 less trade discount rates of 18% and 6%.

Formula used:

Look for the complement of the trade discount rates by subtracting each rate from 100% and converting them to decimal dorm.

Compute the net price factor by multiplying all the decimals together.

The net price computed by multiplying the list price by net price factor.

Net price=List price×Net price factor

Calculation:

Consider list price of All American Sports is $450 and trade discount rate of 14% and 12%

Compute the net price factor by subtracting trade discount from 100%.

100%14%=86%=0.86 100%12%=88%=0.88

The net price factor is computing by mutinying all number together.

Net price factor=0.86×0.88=0.7568

Hence, the net price factor is 0.7568.

Compute the net price by substituting list price is $450 and net price factor to 0

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