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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

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

Nutrition Central pays $11.90 net price for a bottle of 60 multivitamins. The price represents a 30% trade discount from the manufacturer. What is the list price of the vitamins?

To determine

To calculate: The list price of vitamins, if Neutral Central pays a net price of $11.90 for a bottle of 60 multivitamins, also the price shows a trade discount rate of 30% from the manufacturer.

Explanation

Given Information:

It is also given that neutral central pays a net price of $11.90 for a bottle of 60 multivitamins. The price shows a trade discount rate of 30% from the manufacturer.

Formula used:

The net price is computed by the formula:

Net Price=List Price×(100%Trade discount rate)

Rewrite the formula to compute the list price

List price=Net price(100%Trade discount rate)

Calculation:

Consider that the net price is $11.90 and trade discount rate is 30%.

Compute the list price by substituting net price to $11

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