Problem

A wholesaler sells a TV for $1,100 less trade discount series of 22%,11.6%,7.6%. Round your answers to two decimal places if required.
a) Find the net price. $
b) Find the amount of discount. $
c) Determine the single equivalent rate of discount.
\% (round to two decimal places)

Answer

Expert–verified
Hide Steps
Answer

The single equivalent rate of discount is 36.29%

Steps

Step 1 :Calculate the net price by applying each trade discount percentage to the original price of the TV: $1100×(10.22)×(10.116)×(10.076)

Step 2 :Net price after discounts: $1100×0.78×0.884×0.924=$700.83

Step 3 :Calculate the amount of discount by subtracting the net price from the original price: $1100$700.83

Step 4 :Amount of discount: $1100$700.83=$399.17

Step 5 :Determine the single equivalent rate of discount by calculating the overall percentage discount: $399.17$1100×100%

Step 6 :Single equivalent rate of discount: $399.17$1100×100%=36.29%

Step 7 :The net price is $700.83

Step 8 :The amount of discount is $399.17

Step 9 :The single equivalent rate of discount is 36.29%

link_gpt