Calculate the net price factor and single equivalent discount.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Calculate the net price factor and single equivalent discount. For convenience, round your answers to five decimal places when necessary.
TRADE DISCOUNT RATE: 20/16/15
Expert Solution
Step 1
Net price factor is the percentage of list price that a purchaser has to pay after availing trade discount. Trade discount is always given on list price.
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