Ask Question
14 September, 09:54

At a year end clearance, a car dealer reduces the list price of last years models by %12. if a certain model has a discounted price of 22,500, what was the list price? How much can be saved by purchasing last years model?

+3
Answers (1)
  1. 14 September, 10:21
    0
    The list price is 25,568.18

    The amount saved on the purchase (discount) is 3,068.18

    Explanation:

    The discount price can be calculated as follow

    (1) list price x discount rate = discount in dollars

    then:

    list price - discount in dollars = discount price

    or

    (2) list price (1-discount rate) = discount price

    we will use the second formula to solve for list price:

    list (1 - 12%) = 22,500

    22,500 / (1-12%) = list price

    22,500/.88 = list price = 25,568.18

    Now we calculate the discount using the first formula

    25,568.18 x 12% = 3,068.18

    And check if we reach the discount price:

    25,568.18 - 3,068.18 = 22,500.00
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “At a year end clearance, a car dealer reduces the list price of last years models by %12. if a certain model has a discounted price of ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers