Kiddie Kites buys Japanese kite kits with a list price of $6,500. If the supplier offers trade discounts of 30/15/15, find the trade discount amount to the nearest cent.
Well, it's always nice when someone offers a discount! In this case, Kiddie Kites is lucky enough to get a trade discount of 30/15/15. To find the trade discount amount, we'll need to calculate it step by step.
First, let's find the first discount of 30%. To do that, we'll multiply the list price by 30%:
$6,500 * 0.30 = $1,950
So, the first discount is $1,950.
Now, let's move on to the second discount of 15%. To determine the discount after the first discount is subtracted, we'll multiply the remaining amount by 15%:
($6,500 - $1,950) * 0.15 = $607.50
The second discount comes out to $607.50.
Lastly, we'll calculate the third discount of 15% by multiplying the remaining amount after the first and second discounts:
($6,500 - $1,950 - $607.50) * 0.15 = $646.58
The third discount amounts to $646.58.
To find the total trade discount, we'll add up the three discounts:
$1,950 + $607.50 + $646.58 = $3,204.08
Therefore, to the nearest cent, the trade discount amount is $3,204.08.
To find the trade discount amount, we need to calculate the total discount from the list price.
First, let's calculate the first discount of 30%:
30% of $6,500 = $6,500 * (30/100) = $1,950
Next, we calculate the second discount of 15% from the remaining amount after the first discount:
Remaining amount = $6,500 - $1,950 = $4,550
15% of $4,550 = $4,550 * (15/100) = $682.50
Finally, we calculate the third discount of 15% from the remaining amount after the second discount:
Remaining amount = $4,550 - $682.50 = $3,867.50
15% of $3,867.50 = $3,867.50 * (15/100) = $580.13
So, the total trade discount amount is $1,950 + $682.50 + $580.13 = $3,212.63.
To find the trade discount amount, we need to calculate the discounts based on the given trade discount percentages.
The trade discounts are listed as 30/15/15. This means that the first discount is 30%, the second discount is 15% of the remaining amount after the first discount, and the third discount is 15% of the remaining amount after the second discount.
Let's find the discount amount step by step:
1. Calculate the first discount:
Discount 1 = 30% of the list price
= 30/100 * $6,500
= $1,950
2. Calculate the remaining amount after the first discount:
Remaining Amount 1 = List Price - Discount 1
= $6,500 - $1,950
= $4,550
3. Calculate the second discount:
Discount 2 = 15% of the remaining amount after the first discount
= 15/100 * $4,550
= $682.50
4. Calculate the remaining amount after the second discount:
Remaining Amount 2 = Remaining Amount 1 - Discount 2
= $4,550 - $682.50
= $3,867.50
5. Calculate the third discount:
Discount 3 = 15% of the remaining amount after the second discount
= 15/100 * $3,867.50
= $580.13
Therefore, the trade discount amount to the nearest cent is $580.13.