business math help

Question

1. The list price of a dining room set with a 30% trade discount is $16,000. What are the trade discount amount and net price (use complement method for net price)? Don't forget to include a $ in your answer.

2. The net price of a video system with a 20% trade discount is $400. What is the list price? Don't forget to include a $ in your answer.

3. Lamps Outlet bought a shipment of lamps from a wholesaler. The total list price was $14,000 with a 4/8/20 chain discount. Calculate the net price and trade discount amount. (Use the net price equivalent rate and single equivalent discount rate in your calculation.) Don't forget $ signs and commas in your answer.

Answer 1

 

 

What is trade discount amount (list price*30%) :  Answer   :  $4,800

What is net price (list price - trade discount amount)  :  Answer  :  $11,200

 

What is the list price   :   Answer   :   $500

Solution  :  $400/.80

 

 Q3,

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