   Chapter 7.II, Problem 16RE ### 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

# 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$2.89 and net price is $2.15. Round the answer to the nearest tenth of a percent. Explanation Given Information: The list price is$2.89 and net price is $2.15. 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. Trade discount=List priceNet price The trade discount rate is computed by dividing trade discount by list price. Trade discount rate=Trade discountList price Calculation: Consider that the list price is$2.89 and net price is \$2.15.

Compute the trade discount by substituting list price to 2.89 and net price to 2.15.

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