Kelly Melcher Furnishings made purchases at a net cost of 36,458.00 after a series discountof 20/20/10. Find the list price.
let the original list price be $x and now use this argument:
after the first discount the price would be .8x -----> (100% - 20% = 80% or .8)
after the second discount, the price would be .8(.8x) and after the last discount the price would be .1(.8)(.8)x
so .1(.8)(.8)x = 36458 solve for x
(I got $63,295.14)
To find the original list price, we can use the information given about the series discount. Let's break down the calculation step by step.
Step 1: Apply the first discount of 20%
The price after the first discount is 80% of the original list price, which can be expressed as 0.8x (where x is the original list price).
Step 2: Apply the second discount of 20%
The price after the second discount is 80% of the price obtained after the first discount. So, it becomes 0.8(0.8x) = 0.64x.
Step 3: Apply the third discount of 10%
The price after the third discount is 90% of the price obtained after the second discount. So, it becomes 0.9(0.64x) = 0.576x.
Now, we have the equation: 0.576x = $36,458.00.
To find the value of x, we can divide both sides of the equation by 0.576:
x = $36,458.00 / 0.576.
Evaluating this expression, we find that x is approximately $63,295.14.
Therefore, the original list price of the furnishings from Kelly Melcher is $63,295.14.