Trade Discount at 12% add 3% what is the net cost equivalent rate of the series discount?
To find the net cost equivalent rate of the series discount, we need to add the individual discount rates and then find the equivalent rate.
Step 1: Calculate the total discount rate by adding the trade discount rate (12%) and the additional discount rate (3%):
12% + 3% = 15%
Step 2: Find the net cost equivalent rate using the formula:
Net Cost Equivalent Rate = 100% - Total Discount Rate
Net Cost Equivalent Rate = 100% - 15% = 85%
Therefore, the net cost equivalent rate of the series discount is 85%.