I have 14 minutes left to complete this test. use the net decima equivilant to find thr net price. List price is $700 and the trade discount rate ie 10/8/6
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To find the net price using the net decimal equivalent and the given trade discount rate, follow these steps:
1. Convert the trade discount rate to decimal form. The trade discount rate is given as 10/8/6, which means a discount of 10%, 8%, and 6% respectively.
- Convert 10% to decimal: 10/100 = 0.10
- Convert 8% to decimal: 8/100 = 0.08
- Convert 6% to decimal: 6/100 = 0.06
2. Calculate the net decimal equivalent by subtracting the decimal equivalents of the trade discounts from 1.0 (or 100%).
- Net decimal equivalent = 1.0 - 0.10 - 0.08 - 0.06
3. Multiply the net decimal equivalent by the list price to find the net price.
- Net price = net decimal equivalent * list price
Let's calculate it:
Net decimal equivalent = 1.0 - 0.10 - 0.08 - 0.06 = 0.76 (rounded to two decimal places)
Net price = 0.76 * $700 = $532
Therefore, the net price is $532.