Explanation Given Information: The list price is $ 4.89 and trade discount rates are 12 / 10 / 10 . 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 $ 4.89 and trade discount rates are 12 % , 10 % and 10 % . Compute complements of the trade discount rates in series by subtracting them from 100 % . 100 % − 12 % = 88 % = 0.88 100 % − 10 % = 90 % = 0.90 100 % − 10 % = 90 % = 0

Contemporary Mathematics for Business & Consumers - With LMS CengageNOW

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ISBN: 9781337125468

Author: Brechner

Publisher: Cengage

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Chapter 7.III, Problem 16RE

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To calculate: The net price factor, single equivalent discount, trade discount and net price if list price is $4.89 and trade discount rates are 12/10/10. Round the net price factors to five decimal places when required.

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Chapter 7.III, Problem 15RE

Chapter 7.III, Problem 17RE

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Contemporary Mathematics for Business & Consumers - With LMS CengageNOW

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The net price factor, single equivalent discount, trade discount and net price if list price is $ 4.89 and trade discount rates are 12 / 10 / 10 . 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%, then multiplying all the resultant decimals together.

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To calculate: The net price factor, single equivalent discount, trade discount and net price if list price is $4.89 and trade discount rates are 12/10/10. Round the net price factors to five decimal places when required.

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Chapter 7 Solutions