We appreciate your visit to Royal Furniture bought a sofa for 825 The sofa had a 1 425 list price What was the trade discount rate Royal received. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Answer:
the trade discount rate is 42.11%
Explanation:
The computation of the trade discount is shown below:
As we know that
List Price = Net Price ÷ trade discount rate
where,
List price is $1,425
Net price is
= $1,425 - $825
= $600
So, the trade discount rate is
$1,425 = $600 ÷ trade discount rate
= $600 ÷ $1,425
= 42.11%
Hence, the trade discount rate is 42.11%
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Royal Furniture received a trade discount rate of 42.1% on the sofa, as they paid only 57.9% of the sofa's list price ($1,425).
The trade discount rate Royal Furniture received can be calculated using the formula:
Trade Discount Rate = (List Price - Net Price) / List Price
In this case, the List Price of the sofa is $1,425, and Royal Furniture bought it for $825 (the Net Price). Plugging these values into the formula:
Trade Discount Rate = ($1,425 - $825) / $1,425
Trade Discount Rate = $600 / $1,425
Now, divide $600 by $1,425:
Trade Discount Rate ≈ 0.421
To express this as a percentage, multiply by 100:
Trade Discount Rate ≈ 42.1%
So, Royal Furniture received a trade discount rate of approximately 42.1% on the sofa, which means they paid only 57.9% of the sofa's list price.
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