A discount store lists an article for $875.00 less 25% and 20.5%. a competitor carries the same article for $847.90 less 21.5%. What further discount (correct to the nearest of 1%)must the competitor allow so that its net price will be the same as that of the discount store?

Question

A discount store lists an article for $875.00 less 25% and 20.5%. a competitor carries the same article for $847.90 less 21.5%. What further discount (correct to the nearest  of 1%)must the competitor allow so that its net price will be the same as that of the discount store?

Quizplus · Accepted Answer

The Answer is Net price of discount store = 875(1-0.25)(1-0.205)= $521.72
Net price of competitor = 847.90(1-0.215)= 665.60
Additional discount needed = 665.60 - 521.72 = 143.88
Additional percent discount =

Net price of discount store = 875(1-0.25)(1-0.205)= $521.72 Net price of competitor = 847.90(1-0.215)= 665.60 Additional discount needed = 665.60 - 521.72 = 143.88 Additional percent discount = = 21.61681%

= 21.61681%

A Discount Store Lists an Article for $875