Explanation Given Information: The list price is $ 7 , 800 and trade discount rates are 15 / 5 / 5 . Formula used: Compute the net price factor by subtracting each rate from 100 % , then multiply all the resultant decimals together. The formula for the single equivalent discount is computed by subtracting the net price factor from 1 . Single equivalent discount = 1 − Net price factor The trade discount is computed by multiplying list price with single equivalent discount. Trade discount = List price × Single equivalent discount The net price is computed by multiplying the list price by net price factor. Net price = List price × Net price factor Calculation: Consider that the list price is $ 7 , 800 and trade discount rates are 15 % , 5 % and 5 % . Compute complements of the trade discount rates in series by subtracting them from 100 % . 100 % − 15 % = 85 % = 0.85 100 % − 5 % = 95 % = 0.95 100 % − 5 % = 95 % = 0

Contemporary Mathematics for Business & Consumers

8th Edition

ISBN: 9781305886803

Author: Brechner

Publisher: Cengage

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

Chapter 7.III, Problem 12RE

To determine

To calculate: The net price factor, single equivalent discount, trade discount and net price if list price is $7,800 and trade discount rates are 15/5/5. Round the net price factors to five decimal places when required.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 7.III, Problem 11RE

Chapter 7.III, Problem 13RE

Students have asked these similar questions

Let A, B and C be three points in neutral geometry, lying on a circle with center D. If D is in the interior of the triangle ABC, then show that m(<ABC) \leq 1/2m(<ADC).

6. Show that 1{AU B} = max{1{A}, I{B}} = I{A} + I{B} - I{A} I{B}; I{AB} = min{I{A}, I{B}} = I{A} I{B}; I{A A B} = I{A} + I{B}-21{A} I {B} = (I{A} - I{B})².

Theorem 3.5 Suppose that P and Q are probability measures defined on the same probability space (2, F), and that F is generated by a л-system A. If P(A) = Q(A) for all A = A, then P = Q, i.e., P(A) = Q(A) for all A = F.

Chapter 7 Solutions

Contemporary Mathematics for Business & Consumers

Ch. 7.I - From the following FotoFair invoice, identify the...Ch. 7.I - Prob. 2TIE Ch. 7.I - What word is represented by each of the following...Ch. 7.I - Prob. 2RE Ch. 7.I - What word is represented by each of the following...Ch. 7.I - Prob. 4RE Ch. 7.I - Prob. 5RE Ch. 7.I - Prob. 6RE Ch. 7.I - Prob. 7RE Ch. 7.I - Prob. 8RE

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.

The net price factor, single equivalent discount, trade discount and net price if list price is $ 7 , 800 and trade discount rates are 15 / 5 / 5 . Round the net price factors to five decimal places when required.

Solution Summary: The author calculates the net price factor by subtracting each rate from 100% and multiplying all the resultant decimals together.

Concept explainers

Videos

To calculate: The net price factor, single equivalent discount, trade discount and net price if list price is $7,800 and trade discount rates are 15/5/5. Round the net price factors to five decimal places when required.

Want to see the full answer?

Chapter 7 Solutions