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A watch has a list price of $889 and can be bought by Sterling Jewelers for a net price of $545.75. What is the amount of the trade discount?
A watch has a list price of $889 and can be bought by Sterling Jewelers for a net price of $545.75. Given: List Price = $889; Net Price = $545.75; Formula: Net Price = List Price - Trade Discount; Trade Discount = List Price - Net Price; Trade Discount = 889 - 545.75; Trade Discount = $343.25; Trade Discount = List Price x Trade Discount Rate; Trade Discount Rate = Trade Discount/List Price; Trade Discount Rate = 343.25/889; Trade Discount Rate = 38.61%;
Question|Asked by evansm
Asked 2/26/2014 2:03:00 PM
Updated 3/3/2014 1:00:22 PM
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A watch has a list price of $889 and can be bought by Sterling Jewelers for a net price of $545.75.

Given:

List Price = $889;
Net Price = $545.75;

Formula:

Net Price = List Price - Trade Discount;
Trade Discount = List Price - Net Price;
Trade Discount = 889 - 545.75;
Trade Discount = $343.25;

Trade Discount = List Price x Trade Discount Rate;
Trade Discount Rate = Trade Discount/List Price;
Trade Discount Rate = 343.25/889;
Trade Discount Rate = 38.61%;
Added 3/3/2014 1:00:22 PM
This answer has been confirmed as correct and helpful.
Confirmed by samn [3/4/2014 2:19:52 AM]
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