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
Iph I due says so myselph, use a calculate door
To find the single trade discount rate being offered, you need to calculate the difference between the list price and the net cost of the watch.
The formula to find the single trade discount rate is:
Single Trade Discount Rate = (List Price - Net Cost) / List Price * 100
Using the given information:
- List Price = $889.00
- Net Cost = $545.75
Now, substitute the values into the formula:
Single Trade Discount Rate = ($889.00 - $545.75) / $889.00 * 100
Simplifying the equation:
Single Trade Discount Rate = $343.25 / $889.00 * 100
Now, divide the numerator by the denominator:
Single Trade Discount Rate ≈ 0.3859 * 100
Finally, round the result to the nearest tenth of a percent:
Single Trade Discount Rate ≈ 38.6%
Therefore, the single trade discount rate being offered on the watch is approximately 38.6%.