After Discounts of 20% and 10%, an Item Sold for $115.50

question 77

Multiple Choice

After discounts of 20% and 10%, an item sold for $115.50. What was the amount of the discount?

• A) $32.34
• B) $385.00
• C) $83.16
• D) $80.85
• E) $44.92

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Definitions:

Income

The total amount of money received by an individual or generated by an entity, typically on a regular basis, from various sources such as wages, investments, or business ventures.

Demand Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of consumers to price changes.

Price Fall

A reduction in the market price of a good or service, which can influence consumer behavior and economic conditions.

Demand Function

A mathematical expression that shows the relationship between the quantity demanded of a good and its price, holding other factors constant.