Q. 7. Find the complement rates (where none exists, enter an "*") and the net price using the complement method. Do not round until the final answer. List Price $2,800 Trade Discounts 25%, 15%, 10% First Complement Rates Second Third Net Price
Q. 7. Find the complement rates (where none exists, enter an "*") and the net price using the complement method. Do not round until the final answer. List Price $2,800 Trade Discounts 25%, 15%, 10% First Complement Rates Second Third Net Price
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![**Q. 7:** Find the complement rates (where none exists, enter an "*") and the net price using the complement method. Do not round until the final answer.
| | | | Complement Rates | | |
|------------------|--------------------------|---------------|------------------|---------|----------------|
| **List Price** | **Trade Discounts** | **First** | **Second** | **Third** | **Net Price** |
| $2,800 | 25%, 15%, 10% | | | | |
**Explanation:**
- **List Price**: The original price of the item is $2,800.
- **Trade Discounts**: The discounts provided are sequentially 25%, 15%, and 10%.
- **Complement Rates**: To find these, subtract each discount from 100%. If no further discount exists for a position, enter an "*".
- **Net Price**: This is the price after applying all three discount rates using the complement method.
To solve, find each complement rate:
1. **First complement rate**: \(100\% - 25\% = 75\%\)
2. **Second complement rate**: \(100\% - 15\% = 85\%\)
3. **Third complement rate**: \(100\% - 10\% = 90\%\)
Calculate the net price by multiplying the list price by the complement rates:
\[
\text{Net Price} = 2800 \times 0.75 \times 0.85 \times 0.90
\]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8dbcbf0b-9123-4a1c-9796-89fa34227664%2F665b791c-dc46-4ab6-889e-425975d394f7%2Fowkod3q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Q. 7:** Find the complement rates (where none exists, enter an "*") and the net price using the complement method. Do not round until the final answer.
| | | | Complement Rates | | |
|------------------|--------------------------|---------------|------------------|---------|----------------|
| **List Price** | **Trade Discounts** | **First** | **Second** | **Third** | **Net Price** |
| $2,800 | 25%, 15%, 10% | | | | |
**Explanation:**
- **List Price**: The original price of the item is $2,800.
- **Trade Discounts**: The discounts provided are sequentially 25%, 15%, and 10%.
- **Complement Rates**: To find these, subtract each discount from 100%. If no further discount exists for a position, enter an "*".
- **Net Price**: This is the price after applying all three discount rates using the complement method.
To solve, find each complement rate:
1. **First complement rate**: \(100\% - 25\% = 75\%\)
2. **Second complement rate**: \(100\% - 15\% = 85\%\)
3. **Third complement rate**: \(100\% - 10\% = 90\%\)
Calculate the net price by multiplying the list price by the complement rates:
\[
\text{Net Price} = 2800 \times 0.75 \times 0.85 \times 0.90
\]
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