Question 1

Bob's Motorcycle shop buys some seats and handle bars with a list price of $5,020. The supplier extends a 32% trade discount rate. What is the net price?

Accepted Answer

The net price is calculated by subtracting the discount from the list price. The discount is 32% of $5,020, which is $1,606.40 ($5,020 * 0.32). Therefore, the net price is $5,020 - $1,606.40 = $3,413.60.

Question 2

What was the trade discount rate if goods with a list price of $10,600 were sold at a net price of $8,250? (Round to the nearest tenth)

Accepted Answer

The answer of What was the trade discount rate if...

Question 3

Flora's Flowers buys some pots and vases with a list price of $26,700. If the supplier offers a trade discount that yields a net price of $12,955, what is the trade discount rate to the nearest tenth of a percent?

Accepted Answer

The answer of Flora's Flowers buys some pots and vases...

Question 4

Dents and Dings Auto Body buys paint with a list price of $29,000. If the supplier extends trade discounts of 30/35/20, what is the trade discount amount?

Accepted Answer

The trade discount amount is calculated by first applying each discount in sequence to the list price. The first discount is 30%, the second is 35%, and the third is 20%. The calculation is as follows: $29,000 * 0.70 (since 30% off means paying 70%) = $20,300. Then, $20,300 * 0.65 (for the 35% discount) = $13,195. Finally, $13,195 * 0.80 (for the 20% discount) = $10,556. The trade discount amount is the difference between the original price and the final price: $29,000 - $10,556 = $18,444.

Question 5

What was the trade discount rate if items sold with a list price of $7,550 were sold at a net price of $5,220? (Round to the nearest whole percent)

Accepted Answer

The trade discount rate is calculated as ((List Price - Net Price) / List Price) * 100. Substituting the given values: (($7,550 - $5,220) / $7,550) * 100 = 31%.

Question 6

All-Ways Green Gardens buys plants with a list price of $15,000. If the supplier extends trade discounts of 20/15/1, what is the trade discount amount?

Accepted Answer

The trade discount amount is calculated by first applying each discount in sequence on the list price. The initial price is $15,000. The first discount is 20%, which reduces the price by $3,000 (20% of $15,000), making it $12,000. The second discount is 15%, which reduces this amount by $1,800 (15% of $12,000), making it $10,200. The final discount is 1%, which reduces this amount by $102 (1% of $10,200), making it $10,098. The total discount is the original price minus the final price: $15,000 - $10,098 = $4,902.

Question 7

Calculate the trade discount amount of goods with a list price of $29,000 less trade discounts of $$40 \frac { 1 } { 2 } / 20 \frac { 1 } { 4 } / 5$$ .

Accepted Answer

The trade discount is calculated by applying each discount sequentially: First, apply 40.5% to $29,000, then 20.25% to the reduced price, and finally 5% to the next reduced price. The total discount amount is $15,927.18.

Question 8

Find the net price for an order of gift items with a list price $24,000 less trade discounts of 30/25/15. Use the net price, complement method.

Accepted Answer

The answer of Find the net price for an order...

Question 9

Calculate the net price of merchandise listing for $5,900 less a trade discount rate of 45%.

Accepted Answer

The answer of Calculate the net price of merchandise listing...

Question 10

Find the net price for an order of television sets with a list price of $16,000, less trade discounts of 35/20/15. Use the net price, complement method for your answer.

Accepted Answer

To find the net price using the complement method, calculate the complements of the discounts: 0.65, 0.80, and 0.85. Multiply these complements with the list price: $16,000 * 0.65 * 0.80 * 0.85 = $7,072.

Question 11

An electrical supply store bought copper wire with a list price of $26,200. The wholesaler extended a trade discount which made the net price $15,206. What is the trade discount rate to the nearest whole percent?

Accepted Answer

The trade discount rate is calculated by subtracting the net price from the list price, dividing by the list price, and then multiplying by 100 to get a percentage. So, the calculation is (($26,200 - $15,206) / $26,200) * 100 = 42% (rounded to the nearest whole percent).

Question 12

Find the net price for an order of tires with a list price of $15,000, less trade discounts of 30/25/10. Use the net price, complement method.

Accepted Answer

The net price is calculated by multiplying the list price by the complements of the trade discounts: $15,000 * (0.70) * (0.75) * (0.90) = $7,087.50.

Question 13

The Canine Shop orders special powders and oils with a list price of $1,500. The supplier extends a 4% trade discount rate. What is the net price?

Accepted Answer

The net price is calculated by subtracting the discount from the list price. The discount is 4% of $1,500, which is $60. Therefore, the net price is $1,500 - $60 = $1,440.

Question 14

Find the net price for a three piece set of coffee tables with a list price of $2,500, less trade discounts of 25/20/15. Use the net price, complement method.

Accepted Answer

The answer of Find the net price for a three...

Question 15

A flower shop buys roses with a list price of $1,500. If the wholesaler offers trade discounts of $$30 / 21 / 10 \frac { 3 } { 4 }$$ , find the trade discount amount to the nearest penny.

Accepted Answer

The trade discount is calculated by applying each discount in sequence on the list price. First, a 30% discount is applied, reducing the price by $450 (30% of $1500), resulting in a new price of $1050. Then, a 21% discount is applied to the new price, reducing it by $220.50 (21% of $1050), resulting in a new price of $829.50. Finally, a 10.75% discount is applied, reducing the price by $89.17 (10.75% of $829.50), resulting in a final price of $740.33. The total trade discount amount is the original price minus the final price, which is $1500 - $740.33 = $759.67.

Question 16

Easy Patterns Fabric buys merchandise with a list price of $9,500. Use the net price, complement method to find the net price if the wholesaler offers trade discounts of 25/10/5. (Round to the nearest penny)

Accepted Answer

The answer of Easy Patterns Fabric buys merchandise with a...

Question 17

Calculate the trade discount amount of merchandise with a list price of $5,000 less trade discounts of 40/20/15.

Accepted Answer

The trade discount is calculated by applying each discount consecutively on the list price. First, a 40% discount is applied to the $5,000, which equals $2,000 (40% of $5,000), leaving $3,000. Then, a 20% discount is applied to the remaining amount, which equals $600 (20% of $3,000), leaving $2,400. Finally, a 15% discount is applied to the remaining amount, which equals $360 (15% of $2,400), leaving $2,040. The total discount amount is the original price minus the final price after all discounts: $5,000 - $2,040 = $2,960.

Question 18

Calculate the net price of goods listing for $9,900 less a trade discount rate of $$2 \frac { 3 } { 8 } \%$$ to the nearest cent.

Accepted Answer

The trade discount is calculated as $9,900 	imes 2\frac{3}{8}\% = $9,900 	imes \frac{19}{8} 	imes \frac{1}{100} = $235.125$. The net price is the list price minus the trade discount, so $9,900 - $235.125 = $9,664.875, which rounds to $9,664.87 to the nearest cent.

Question 19

Anselmo's Engineering buys circuit boards with a list price of $32,000. If the supplier extends trade discounts of 42/32/12, what is the trade discount amount?

Accepted Answer

The trade discount amount is calculated by first finding the net price factor, which is 1 minus each of the trade discounts applied successively. The trade discounts are 42%, 32%, and 12%. So, the net price factor is 1 - 0.42 = 0.58, then 0.58 * (1 - 0.32) = 0.3944, and finally 0.3944 * (1 - 0.12) = 0.347072. The trade discount amount is then the list price multiplied by (1 - net price factor), which is $32,000 * (1 - 0.347072) = $20,893.70.

Question 20

McClan Paving buys asphalt with a list price of $17,000. If the supplier extends trade discounts of 42/22/11, find the net price using the complement method.

Accepted Answer

The complement method involves subtracting each discount rate from 100% to find the complement, then multiplying the complements together and finally applying the total complement to the list price. The trade discounts are 42%, 22%, and 11%. Their complements are 58% (100% - 42%), 78% (100% - 22%), and 89% (100% - 11%), respectively. Multiplying these complements together: 0.58 * 0.78 * 0.89 = 0.402684. Applying this to the list price: $17,000 * 0.402684 = $6,844.20.

Quiz 7: Invoices, Trade Discounts, and Cash Discounts

Bob's Motorcycle shop buys some seats and handle bars with a list price of $5,020. The supplier extends a 32% trade discount rate. What is the net price?

What was the trade discount rate if goods with a list price of $10,600 were sold at a net price of $8,250? (Round to the nearest tenth)

Flora's Flowers buys some pots and vases with a list price of $26,700. If the supplier offers a trade discount that yields a net price of $12,955, what is the trade discount rate to the nearest tenth of a percent?

Dents and Dings Auto Body buys paint with a list price of $29,000. If the supplier extends trade discounts of 30/35/20, what is the trade discount amount?

What was the trade discount rate if items sold with a list price of $7,550 were sold at a net price of $5,220? (Round to the nearest whole percent)

All-Ways Green Gardens buys plants with a list price of $15,000. If the supplier extends trade discounts of 20/15/1, what is the trade discount amount?

Calculate the trade discount amount of goods with a list price of $29,000 less trade discounts of $40 \frac { 1 } { 2 } / 20 \frac { 1 } { 4 } / 5$ .

Find the net price for an order of gift items with a list price $24,000 less trade discounts of 30/25/15. Use the net price, complement method.

Calculate the net price of merchandise listing for $5,900 less a trade discount rate of 45%.

Find the net price for an order of television sets with a list price of $16,000, less trade discounts of 35/20/15. Use the net price, complement method for your answer.

An electrical supply store bought copper wire with a list price of $26,200. The wholesaler extended a trade discount which made the net price $15,206. What is the trade discount rate to the nearest whole percent?

Find the net price for an order of tires with a list price of $15,000, less trade discounts of 30/25/10. Use the net price, complement method.

The Canine Shop orders special powders and oils with a list price of $1,500. The supplier extends a 4% trade discount rate. What is the net price?

Find the net price for a three piece set of coffee tables with a list price of $2,500, less trade discounts of 25/20/15. Use the net price, complement method.

A flower shop buys roses with a list price of $1,500. If the wholesaler offers trade discounts of $30 / 21 / 10 \frac { 3 } { 4 }$ , find the trade discount amount to the nearest penny.

Easy Patterns Fabric buys merchandise with a list price of $9,500. Use the net price, complement method to find the net price if the wholesaler offers trade discounts of 25/10/5. (Round to the nearest penny)

Calculate the trade discount amount of merchandise with a list price of $5,000 less trade discounts of 40/20/15.

Calculate the net price of goods listing for $9,900 less a trade discount rate of $2 \frac { 3 } { 8 } \%$ to the nearest cent.

Anselmo's Engineering buys circuit boards with a list price of $32,000. If the supplier extends trade discounts of 42/32/12, what is the trade discount amount?

McClan Paving buys asphalt with a list price of $17,000. If the supplier extends trade discounts of 42/22/11, find the net price using the complement method.

Quiz 7: Invoices, Trade Discounts, and Cash Discounts

Bob's Motorcycle shop buys some seats and handle bars with a list price of $5,020. The supplier extends a 32% trade discount rate. What is the net price?

What was the trade discount rate if goods with a list price of $10,600 were sold at a net price of $8,250? (Round to the nearest tenth)

Flora's Flowers buys some pots and vases with a list price of $26,700. If the supplier offers a trade discount that yields a net price of $12,955, what is the trade discount rate to the nearest tenth of a percent?

Dents and Dings Auto Body buys paint with a list price of $29,000. If the supplier extends trade discounts of 30/35/20, what is the trade discount amount?

What was the trade discount rate if items sold with a list price of $7,550 were sold at a net price of $5,220? (Round to the nearest whole percent)

All-Ways Green Gardens buys plants with a list price of $15,000. If the supplier extends trade discounts of 20/15/1, what is the trade discount amount?

Calculate the trade discount amount of goods with a list price of $29,000 less trade discounts of 4012/2014/540 \frac { 1 } { 2 } / 20 \frac { 1 } { 4 } / 54021​/2041​/5 .

Find the net price for an order of gift items with a list price $24,000 less trade discounts of 30/25/15. Use the net price, complement method.

Calculate the net price of merchandise listing for $5,900 less a trade discount rate of 45%.

Find the net price for an order of television sets with a list price of $16,000, less trade discounts of 35/20/15. Use the net price, complement method for your answer.

An electrical supply store bought copper wire with a list price of $26,200. The wholesaler extended a trade discount which made the net price $15,206. What is the trade discount rate to the nearest whole percent?

Find the net price for an order of tires with a list price of $15,000, less trade discounts of 30/25/10. Use the net price, complement method.

The Canine Shop orders special powders and oils with a list price of $1,500. The supplier extends a 4% trade discount rate. What is the net price?

Find the net price for a three piece set of coffee tables with a list price of $2,500, less trade discounts of 25/20/15. Use the net price, complement method.

A flower shop buys roses with a list price of $1,500. If the wholesaler offers trade discounts of 30/21/103430 / 21 / 10 \frac { 3 } { 4 }30/21/1043​ , find the trade discount amount to the nearest penny.

Easy Patterns Fabric buys merchandise with a list price of $9,500. Use the net price, complement method to find the net price if the wholesaler offers trade discounts of 25/10/5. (Round to the nearest penny)

Calculate the trade discount amount of merchandise with a list price of $5,000 less trade discounts of 40/20/15.

Calculate the net price of goods listing for $9,900 less a trade discount rate of 238%2 \frac { 3 } { 8 } \%283​% to the nearest cent.

Anselmo's Engineering buys circuit boards with a list price of $32,000. If the supplier extends trade discounts of 42/32/12, what is the trade discount amount?

McClan Paving buys asphalt with a list price of $17,000. If the supplier extends trade discounts of 42/22/11, find the net price using the complement method.

Calculate the trade discount amount of goods with a list price of $29,000 less trade discounts of $40 \frac { 1 } { 2 } / 20 \frac { 1 } { 4 } / 5$ .

A flower shop buys roses with a list price of $1,500. If the wholesaler offers trade discounts of $30 / 21 / 10 \frac { 3 } { 4 }$ , find the trade discount amount to the nearest penny.

Calculate the net price of goods listing for $9,900 less a trade discount rate of $2 \frac { 3 } { 8 } \%$ to the nearest cent.