An Invoice Shows a Net Price of $176

question 102

Short Answer

An invoice shows a net price of $176.72 after trade discounts of 30%, 10%, and 2% have been deducted.
a) What was the list price of the goods?
b) What single discount would be equivalent to the discount series?

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Definitions:

Bankers Trust

was a historic American banking organization that was absorbed by Deutsche Bank in 1999, known for its role in financial services and investment banking.

Assets

Economic resources or owned items of value that an individual, corporation, or country possesses, expected to provide future benefits.

Money Supply

The overall pool of money within an economy at a certain time, including all forms of cash, coinage, and funds in checking and savings accounts.

Spanish Currency

The Euro, which is the official currency of Spain, part of the Eurozone countries that have adopted the euro (€) as their legal tender.