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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

Complete the following table. Round net price factors to five decimal places when necessary.

Trade Single
Discount Net Price Equivalent Trade
List Price Rates Factor Discount Discount Net Price

Shopper’s Mart purchased the following items. Calculate the extended total after the trade discounts for each line, the invoice subtotal, and the invoice total.

Quantity Unit Merchandise Unit List TradeDiscounts ExtendedTotal
150 ea. Blenders $59.95 20/15/15
400 ea. Toasters $39.88 20/10/10
18 doz. Coffee Mills $244.30 30/9/7
12 doz. Juicers $460.00 25/10/5
Invoice subtotal
Extra 5 1 2 % volume discount on total order
Invoice total

To determine

To calculate: The extended total, invoice subtotal and invoice total if Shopper’s Mart purchased the following items:

Contemporary Mathematics for Business & Consumers, Chapter 7.III, Problem 26RE

Explanation

Given Information:

Shopper’s Mart purchased the following items:

Calculation:

Consider the given chart.

Compute complements of the trade discount rates for Blenders Merchandise in series by subtracting them from 100%.

100%20%=80% =0.80

100%15%=85% =0.85

100%15%=85% =0.85

Compute the net price factor by multiplying all the decimals together.

Net price factor=0.80×0.85×0.95 =0.578

Hence, the net price factor is 0.578.

The extended total amount for the blenders is,

150×59.95×0.578=5197.67

Compute complements of the trade discount rates for Toasters Merchandise in series by subtracting them from 100%.

100%20%=80% =0.80

100%10%=0% =0.90

100%10%=0% =0.90

Compute the net price factor by multiplying all the decimals together.

Net price factor=0.80×0.90×0.90 =0.648

Hence, the net price factor is 0.648.

The extended total amount for the Toasters Merchandise is,

400×39.88×0.648=10336.90.

Compute complements of the trade discount rates for coffee mills Merchandise in series by subtracting them from 100%.

100%30%=70% =0.70

100%9%=91% =0.91

100%7%=93% =0.93

Compute the net price factor by multiplying all the decimals together.

Net price factor=0.70×0.91×0.93 =0.59241

Hence, the net price factor is 0.59241.

The extended total amount for the coffee mills Merchandise is,

18×244.30×0.59241=2605

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