This is a Discussion Post which only contain Max 200 words

Anonymous
timer Asked: Oct 29th, 2015
account_balance_wallet $5

Question description

Successive Discounts

Retailers often mark down products in order to attract customers. We all like a good sale at our favorite store. This week we will discuss successive discounts.

Here is an example of a successive discount. I went to my favorite store and I found a purse on sale for 30% off. Luckily that day, the store also offered an additional 25% off the already discounted price. The original price of the purse was $120. How much did I pay for the purse if the sales tax rate is 8.25%.

Here is how I can find the final price:

Find the complements of the discounts:

  • The complement of 30% is (100% - 30%) = 70% = 0.70.
  • The complement of 25% is (100% - 25%) = 75% = 0.75

Multiply the original price by the complements of the discounts:

  •  ($120)(0.70)(.75) = $63  This is the sale price

Now find the total price including tax. To do this multiply the sale price by (1 + the sales tax)

  •   ($63)(1 + .0825) = $68.20 This is the total price I paid.

Find an example of a successive discount, either from your favorite store, in a weekly circular, or on the Internet. Show all your calculations for finding the sale price (using the example above as a guideline) including the sales tax using the sates tax rate in your community. Discuss how most people miscalculate successive discussions in comparison to the calculation you posted and explain the reasons for the miscalculation most people do.


Tutor Answer

UT Austin

flag Report DMCA
Review

Anonymous
Wow this is really good.... didn't expect it. Sweet!!!!

Similar Questions
Hot Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors