Posted by April on .
Fantasia Florist Shop purchases an order of imported roses with a list price of $2,375 less trade discounts of 15/20/20. What is the dollar amount of the trade discount?
15/20/20 is a successive discount of 15%, followed by 20% on the discounted price, and finally another 20% of the doubly discounted price.
For example, $1000 with a trade discount of 15/20/30 would have a final discounted price of
So the trade discount is