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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

Calculate the following trade discounts and trade discount rates. Round answers to the nearest tenth of a percent.

List Price Trade Discount Trade Discount Rate Net Price

4.60 12 3 4 %

_________ _________.

To determine

To calculate: The net price factor and net price if list price is $4.60 and trade discount rate is 1234%. Round the answer to the nearest cent.

Explanation

Given Information:

The list price is $4.60 and trade discount rate is 1234%.

Formula used:

Follow the steps to compute the net price using the net price factor:

Step 1: The net price factor is computed by subtracting the trade discount rate from 100%.

Net Price Factor=100%Trade discount rate

Step 2: The net price is computed by multiplying the list price with the net price factor.

Net Price=List Price×Net Price Factor

Calculation:

Consider that the list price is $4.60 and trade discount rate is 1234%.

Simplify the trade discount rate as follows:

1234%=514%=12

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