One manufacturer needs to calculate the net price of an order with a list price of ​$700 and a trade discount series of 11/9​/6 Use the net decimal equivalent to find the net price.
Correction
One manufacturer needs to calculate the net price of an order with a list price of $700 and a trade discount series of 11/9/6 Use the net decimal equivalent to find the net price.
To calculate the net price of an order with a list price of $700 and a trade discount series of 11/9/6, we need to find the net decimal equivalent.
The trade discount series indicates the percentage of discount at each level. In this case, the first level is an 11% discount, followed by a 9% discount, and finally a 6% discount.
To find the net decimal equivalent, we need to calculate the complement of each discount level. The complement is the percentage left after deducting the discount. For example, for the first level discount of 11%, the complement is 100% - 11% = 89%.
Let's calculate the net decimal equivalent step by step:
1. Calculate the complement of the first-level discount:
Complement = 100% - 11% = 89%
2. Calculate the complement of the second-level discount:
Complement = 100% - 9% = 91%
3. Calculate the complement of the third-level discount:
Complement = 100% - 6% = 94%
Now, let's calculate the net decimal equivalent by multiplying the complements together:
Net Decimal Equivalent = 89% * 91% * 94%
To find the net price, we multiply the list price by the net decimal equivalent:
Net Price = List Price * Net Decimal Equivalent
= $700 * (89% * 91% * 94%)
Calculating this gives us the net price of the order.