Question

The list price of a set of fine china is $345.70 and the trade discount is 55%. Find the net cost.

I did $345.70 *.55= 190.14 that gives me the trade discount. i'm confused on how i then find the net cost, do i subtract 190.14 from 345.70 to get the net cost?

Answer 1

The net cost is difference between the list price and the trade discount. In other words, you are on the right path :)

Answer 2

so would i be correct if i got $155.56 as an answer, Lucina?

Answer 3

Yes, you would be correct.

Answer 4

Okay thank you lucina:] would you mine checking this one...

A watch with a list price of $889.00 is sold by a wholesaler at a net cost of $545.75. Find the single trade discount rate being offered. round to the nearest tenth of a percent

889.00*61.4? since trade discount equals list price * trade discount percentage? 54.58 would be the discount am right