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
To solve this i did 545.75 divided by 889.00 that gave me 0.61389 which comes out to 61.4% if i round to the nearest tenth of a percent. Am i right?
4 answers
61.4% is the amount paid. That is not the discount (which is the amount not paid)
okay i get that so would i be correct if i did 889.00*61.4? since trade discount equals list price * trade discount percentage?
54.58 would be my answer
Would I be correct if I put $54.58 as my answer, Steve?
1 answer