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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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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.

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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