Chapter 7.II, Problem 16RE

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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 |

2.89 ___________ ________ $2.15

To determine

**To calculate:** The trade discount and trade discount rate if list price is

Explanation

**Given Information:**

The list price is

**Formula used:**

Compute the trade discount when list price and net price are given:

The trade discount is computed by subtracting net price from list price.

The trade discount rate is computed by dividing trade discount by list price.

**Calculation:**

Consider that the list price is

Compute the trade discount by substituting list price to

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