   Chapter 7, Problem 17AT ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### 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.a. What is the net price factor of the trade discount series 20/15/11 ?b. What is the single equivalent discount?

(a)

To determine

To calculate: The net price factor if trade discount series 20/15/11.

Explanation

Given Information:

The trade discount rates of 20%, 15% and 11%.

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.

Calculation:

Consider trade discount rates of 20%, 15% and 11%.

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

 100%−20%=80%=80100=0

(b)

To determine

To calculate: The single equivalent discount if the net price factor is 0.6052.

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