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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 net prices to the nearest cent.

List Price Trade Discount Rate Trade Discount Net Price

21.29 18% ________ ________.

To determine

To calculate: The trade discount and net price if list price is $21.29 and trade discount rate is 18%. Round the answers to the nearest cent.

Explanation

Given Information:

The list price is $21.29 and trade discount rate is 18%.

Formula used:

The trade discount is computed by multiplying the trade discount rate with the list price.

Trade discount=List price×Trade discount rate

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

Net Price=List PriceTrade Discount

Calculation:

Consider that the list price is $21.29 and trade discount rate is 18%.

Compute the trade discount by substituting list price to 21.29 and trade discount rate to 0.18.

Trade discount=List price×Trade discount rate=21

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