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)

Solution

Step 1 :Calculate the net price by applying each trade discount percentage to the original price of the TV: \( \$1100 \times (1 - 0.22) \times (1 - 0.116) \times (1 - 0.076) \)

Step 2 :Net price after discounts: \( \$1100 \times 0.78 \times 0.884 \times 0.924 = \$700.83 \)

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: \( \frac{\$399.17}{\$1100} \times 100\% \)

Step 6 :Single equivalent rate of discount: \( \frac{\$399.17}{\$1100} \times 100\% = 36.29\% \)

Step 7 :The net price is \(\boxed{\$700.83}\)

Step 8 :The amount of discount is \(\boxed{\$399.17}\)

Step 9 :The single equivalent rate of discount is \(\boxed{36.29\%}\)

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