An invoice shows a net price of $176.72 after trade discounts of 30%, 10%, and 2% have been deducted. a. What was the list price of the goods? (Round your answer to the nearest cent.) Price $286.23 b. What single rate of trade discount would be equivalent to the discount series? (Round your answer to two decimal places.) Single rate 61.74 %
An invoice shows a net price of $176.72 after trade discounts of 30%, 10%, and 2% have been deducted. a. What was the list price of the goods? (Round your answer to the nearest cent.) Price $286.23 b. What single rate of trade discount would be equivalent to the discount series? (Round your answer to two decimal places.) Single rate 61.74 %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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An invoice shows a net price of $176.72 after trade discounts of 30%, 10%, and 2% have been deducted.
a. What was the list price of the goods? (Round your answer to the nearest cent.)
Price = $ 286.23
b. What single rate of trade discount would be equivalent to the discount series? (Round your answer to two decimal places.)
Single rate = % (Not 61.74)
Transcribed Image Text:An invoice shows a net price of $176.72 after trade discounts of 30%, 10%, and 2% have been deducted.
a. What was the list price of the goods? (Round your answer to the nearest cent.)
Price $ 286.23
b. What single rate of trade discount would be equivalent to the discount series? (Round your answer to two decimal places.)
Single rate
61.74 %
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