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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

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.

Trade discount=List priceNet price=2

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