The list price of a garden tractor is $2,899. The trade discount series is 20%/12%. Calculate the net price of the tractor.
A) $2,041
B) $1,971
C) $1,885
D) $1,842
E) $1,627

Question

Quizplus · Accepted Answer

The net price is calculated as follows:Net price = List price - (List price x Trade discount rate)Net price = $2,899 - ($2,899 x 0.20 x 0.12)Net price = $2,899 - $695.76Net price = $2,203.24

The List Price of a Garden Tractor Is $2,899