Math Problem Statement
I sold a set of saws. The list price was $3,800. I was offered a chain discount of 8/3/1. What’s the net price of the saws
Solution
To calculate the net price of the saws after a chain discount of 8/3/1 on the list price of $3,800, we can follow these steps:
-
First discount (8%):
- 8% of $3,800 =
- Subtract the discount:
-
Second discount (3%):
- 3% of $3,496 =
- Subtract the discount:
-
Third discount (1%):
- 1% of $3,391.12 =
- Subtract the discount:
So, the net price of the saws after applying the chain discount is $3,357.21.
Would you like more details or have any questions?
Here are 5 related questions for deeper understanding:
- What is a chain discount, and how does it differ from a single discount?
- How would the net price change if the chain discount was in reverse order, like 1/3/8?
- Can chain discounts be expressed as a single equivalent percentage discount?
- How does applying multiple discounts affect the total percentage saved?
- What types of businesses commonly use chain discounts?
Tip: Always apply each discount to the new price after the previous discount, not the original price.
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Math Problem Analysis
Mathematical Concepts
Discount Calculation
Percentages
Successive Discounts
Formulas
Net Price = List Price × (1 - Discount1) × (1 - Discount2) × (1 - Discount3)
Theorems
Successive percentage discount theorem
Suitable Grade Level
Grades 9-12
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