SOLUTION: A camera is priced at P15,000.00 subject to 10% and 5% trade discounts. Determine the: a. additional trade discount rate that would bring down the price further to P12,440.25

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Question 468567: A camera is priced at P15,000.00 subject to 10% and 5% trade discounts. Determine the:
a. additional trade discount rate that would bring down the price further to P12,440.25
b. single equivalent rate of the three discount rates
Answer by Tatiana_Stebko(1539) About Me  (Show Source):
You can put this solution on YOUR website!
P15,000.00 after 10% discount is 15,000.00*(100%-10%)/100%=15,000.00*0.9=13,500.00
P13,500.00 after 5% discount is 13,500.00*(100%-5%)/100%=13,500.00*0.95=12,825.00
a. additional trade discount rate that would bring down the price further to P12,440.25
100%-(12,440.25/12,825.00)*100%=3%
b. single equivalent rate of the three discount rates
100%-(12,440.25/15,000.00)*100%=17.065%