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:

  1. First discount (8%):

    • 8% of $3,800 = 3,800×0.08=3043,800 \times 0.08 = 304
    • Subtract the discount: 3,800304=3,4963,800 - 304 = 3,496
  2. Second discount (3%):

    • 3% of $3,496 = 3,496×0.03=104.883,496 \times 0.03 = 104.88
    • Subtract the discount: 3,496104.88=3,391.123,496 - 104.88 = 3,391.12
  3. Third discount (1%):

    • 1% of $3,391.12 = 3,391.12×0.01=33.913,391.12 \times 0.01 = 33.91
    • Subtract the discount: 3,391.1233.91=3,357.213,391.12 - 33.91 = 3,357.21

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:

  1. What is a chain discount, and how does it differ from a single discount?
  2. How would the net price change if the chain discount was in reverse order, like 1/3/8?
  3. Can chain discounts be expressed as a single equivalent percentage discount?
  4. How does applying multiple discounts affect the total percentage saved?
  5. 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