Answered: The list price for a vacuum cleaner is…

The list price for a vacuum cleaner is $299.99. Determine the net cost after a 15/10/10 series discount a. $299.64 b.$206.54 c.$100.20 d.$417.44

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The list price for a vacuum cleaner is $299.99. Determine the net cost after a 15/10/10 series discount

a. $299.64

b.$206.54

c.$100.20

d.$417.44

Expert Solution

Step 1

Lets understand the basic.

We are required to calculate single discount rate to calculate the requirement.

Single discount rate = 100 - ((100 - D1) (100 - D2)(100 - D3))

Based in the discount rate we can calculate the net cost as below:-

= List price - Single discount rate

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