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

You are the buyer for the housewares department of the Galleria Department Store.

A number of vendors in your area carry similar lines of merchandise. On sets of microwavable serving bowls. Kitchen Magic offers a list price of $400 per dozen less a 38% trade discount. Pro-Chef offers a similar set for a list price of $425 less a 45% trade discount.

a. Which vendor is offering the lower net price?

b. If you order 500 dozen sets of the bowls, how much money will be saved by using the lower-priced vendor?

(a)

To determine

The lower net price if Kitchen magic offers microwavable serving bowls at a list price of $400 per dozen with trade discount rate of 38% and Pro chef offers a similar set at a list price of is $425 per dozen with trade discount of 45%.

Explanation

Given Information:

It is given that Kitchen magic offers microwavable serving bowls at a list price of $400 per dozen with trade discount rate of 38% and Pro chef offers a similar set at a list price of is $425 per dozen with trade discount of 45%.

Consider that the list price of Kitchen magic is $400 per dozen with trade discount rate of 38% and list price of Pro chef is $425 per dozen with trade discount of 45%.

The net price is computed as follows,

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

Compute the net price of Kitchen magic by substituting list price to $400 per dozen and trade discount rate to 38% as,

Net Price=$400×(100%−38%) =$400×(62%) =$400×0

(b)

To determine

The money saved by lower-priced vendor if $500 dozen sets of bowls are ordered with Kitchen magic’s net price for 1 dozen is $248.00 and the net price of Pro chef is for 1 dozen is $233.75.

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Sect-7.I P-1TIE Sect-7.I P-2TIE Sect-7.I P-1RE Sect-7.I P-2RE Sect-7.I P-3RE Sect-7.I P-4RE Sect-7.I P-5RE Sect-7.I P-6RE Sect-7.I P-7RE Sect-7.I P-8RE

Sect-7.I P-9RE Sect-7.I P-10RE Sect-7.I P-11RE Sect-7.I P-12RE Sect-7.I P-13RE Sect-7.I P-14RE Sect-7.I P-15RE Sect-7.I P-16RE Sect-7.I P-17RE Sect-7.I P-18RE Sect-7.I P-19RE Sect-7.I P-20RE Sect-7.I P-21RE Sect-7.I P-22RE Sect-7.II P-3TIE Sect-7.II P-4TIE Sect-7.II P-5TIE Sect-7.II P-1RE Sect-7.II P-2RE Sect-7.II P-3RE Sect-7.II P-4RE Sect-7.II P-5RE Sect-7.II P-6RE Sect-7.II P-7RE Sect-7.II P-8RE Sect-7.II P-9RE Sect-7.II P-10RE Sect-7.II P-11RE Sect-7.II P-12RE Sect-7.II P-13RE Sect-7.II P-14RE Sect-7.II P-15RE Sect-7.II P-16RE Sect-7.II P-17RE Sect-7.II P-18RE Sect-7.II P-19RE Sect-7.II P-20RE Sect-7.II P-21RE Sect-7.II P-22RE Sect-7.II P-23RE Sect-7.II P-24RE Sect-7.II P-25RE Sect-7.II P-26RE Sect-7.III P-6TIE Sect-7.III P-7TIE Sect-7.III P-8TIE Sect-7.III P-1RE Sect-7.III P-2RE Sect-7.III P-3RE Sect-7.III P-4RE Sect-7.III P-5RE Sect-7.III P-6RE Sect-7.III P-7RE Sect-7.III P-8RE Sect-7.III P-9RE Sect-7.III P-10RE Sect-7.III P-11RE Sect-7.III P-12RE Sect-7.III P-13RE Sect-7.III P-14RE Sect-7.III P-15RE Sect-7.III P-16RE Sect-7.III P-17RE Sect-7.III P-18RE Sect-7.III P-19RE Sect-7.III P-20RE Sect-7.III P-21RE Sect-7.III P-22RE Sect-7.III P-23RE Sect-7.III P-24RE Sect-7.III P-25RE Sect-7.III P-26RE Sect-7.III P-27RE Sect-7.IV P-9TIE Sect-7.IV P-10TIE Sect-7.IV P-11TIE Sect-7.IV P-12TIE Sect-7.IV P-13TIE Sect-7.IV P-14TIE Sect-7.IV P-15TIE Sect-7.IV P-1RE Sect-7.IV P-2RE Sect-7.IV P-3RE Sect-7.IV P-4RE Sect-7.IV P-5RE Sect-7.IV P-6RE Sect-7.IV P-7RE Sect-7.IV P-8RE Sect-7.IV P-9RE Sect-7.IV P-10RE Sect-7.IV P-11RE Sect-7.IV P-12RE Sect-7.IV P-13RE Sect-7.IV P-14RE Sect-7.IV P-15RE Sect-7.IV P-16RE Sect-7.IV P-17RE Sect-7.IV P-18RE Sect-7.IV P-19RE Sect-7.IV P-20RE Sect-7.IV P-21RE Sect-7.IV P-22RE Sect-7.IV P-23RE Sect-7.IV P-24RE Sect-7.IV P-25RE Sect-7.IV P-26RE Ch-7 P-1CR Ch-7 P-2CR Ch-7 P-3CR Ch-7 P-4CR Ch-7 P-5CR Ch-7 P-6CR Ch-7 P-7CR Ch-7 P-8CR Ch-7 P-9CR Ch-7 P-10CR Ch-7 P-11CR Ch-7 P-12CR Ch-7 P-13CR Ch-7 P-14CR Ch-7 P-1AT Ch-7 P-2AT Ch-7 P-3AT Ch-7 P-4AT Ch-7 P-5AT Ch-7 P-6AT Ch-7 P-7AT Ch-7 P-8AT Ch-7 P-9AT Ch-7 P-10AT Ch-7 P-11AT Ch-7 P-12AT Ch-7 P-13AT Ch-7 P-14AT Ch-7 P-15AT Ch-7 P-16AT Ch-7 P-17AT Ch-7 P-18AT Ch-7 P-19AT Ch-7 P-20AT Ch-7 P-21AT

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