This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 Excerpt: ...off the remainder, and so on. 540. The list price is called the gross price, and the price after the discount has been deducted, the net price. 541. Commercial discounts are usually computed by the rules of percentage, the list price or the amount of the bill or debt corresponding to the base, the per cent of discount ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 Excerpt: ...off the remainder, and so on. 540. The list price is called the gross price, and the price after the discount has been deducted, the net price. 541. Commercial discounts are usually computed by the rules of percentage, the list price or the amount of the bill or debt corresponding to the base, the per cent of discount to the rate, the discount to the percentage, and the net price or net amount of the bill or debt to the difference. 542. To find the net selling price, the list price and discount series being given. 543. Examples. 1. Find the net amount of a bill of $ 450 after a discount of 33 % is made. Solution $450 = the list price. 33 %, or, of $450 = $150, the discount allowed. $450-$150 = $300, the net amount of the bill. 2. The list price of a piano is $800. What is the net price if a. discount series of 25% and 20% is allowed? Solution $ 800 = the list price. 25%, or, of $800 = $200, the first discount. $800-$200 = $600, the remainder after the first discount. 20%, or J, of $600 = $120, the second discount. $600-$ 120 = $480, the net price. 544. Therefore the following rule: Deduct the first discount from the list price, and each subsequent discount from each successive remainder. The last remainder is the net selling price. The order in which the discounts of any series are considered is not material, a series of 25%, 15%, and 10% being the same as one of 15%, 10%, and 25%, or 10%, 25%, and 15%. ORAL EXERCISE 1. Find the net cost of a piece of glass listed at $ 3.60 and discounted 25%. 2. A merchant sold a bill of goods amounting to $ 4.50 on which he allowed 20% discount. What was the net amount of the bill? S. Find the net amount of a bill of $ 18, the discount being 11%. 4-What is the net amount of a bill of $ 450, the discounts being 3...
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