What is the amount of the trade discount with a list price of $3,100 and a trade discount of 55%

Question

 this question is a hard question

Answer 1

To understand this question, you need to break it down:

 

You are asked the amount of the trade discount. You are told that it is 55% of something, but of what?

 

There is only one other number mentioned, the list price.

 

Remember that to calculate a percentage, you multiply the percentage (in this case 55) by the number, and divide by 100.

 

This problem is like what you might find in a real store: The tag on an item may have one price, but a sign may say "Clearance: 40% off price on tag." If you calculate the percentage, you know how much your discount is.