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Homework answers / question archive / 1)Trade Discounts ( Single Discounts) a

1)Trade Discounts ( Single Discounts) a

Accounting

1)Trade Discounts ( Single Discounts) a. Complete the following: LIST DISCOUNT NIP RATE DISCOUNT RATE 5% NET INVOICE PRICE a. 158.75 b. 865.00 c. 1,300.00 d. 3,650.00 e. 725.00 f. 630.00 104.00 803.00 3% 8% 522.00 582.75 945.75 1,104.00 5,512.50 430.09 h. i. j. . 612.50 94.41 b. Complete the following: LIST DISCOUNT NIP RATE NET INVOICE PRICE DISCOUNT RATE 15% 22-% a. 563.50 b. 105.00 53.50 13.00 c. 428.00 d. 75.00 e. 229.95 f. 870.00 194.61 778.65 46.50 1,790.00 7% h. 101% i. j. 138.75 111.50 416.25 999.00

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List Discount rate Discount Net invoice price NIP Rate
a.158.75 5% 158.75*5% = 7.9375 158.75-7.9375 = 150.8125

100%-5% = 95%
b.865        
c.1300

(104/1300)*100=

8%

 104 1300-104 = 1196 100%-8%=92%
d.3650

(803/3650)*100=

22%

 803 3650-803 = 2847 100%-22% =78%
e.725

(203/725)*100 =

28%

 725-522 = 203 522 100%-28% = 72%
f.630

(47.25/630 )*100=

7.5%

 630-582.75 = 47.25 582.75 100%-7.5% = 92.5%

g.(945.75/97)*100=

975

 3%

975-945.75=

29.25

 945.75 100%-3% = 97%

h.(1104/92)*100=

1200

 8% 96 1104 100%-8%=92%

i.5512.50+612.50=

6125

(612.50/6125)*100=

10%

 612.50 5512.50 100%-10%=90%

j.430.09+94.41=

524.5

(94.41/524.5)*100=

18%

 94.41 430.09 100%-18%=82%

Please note that for item b with only one variable others cannot be find

List Discount rate Discount Net invoice price NIP Rate
a.563.50 15% 563.5*15% = 84.525 563.50-84.525 = 150.8125

100%-15% = 85%
b.105 22.5%

105*22.5% =

23.625

105-23.625=

81.375

 100%-22.5%=77.5%
c.428

(53.5/428)*100=

12.5%

 53.5 428-53.5 = 374.5 100%-12.50%=87.5%
d.75

(13/75)*100=

17.33%

 13 75-13= 62 100%-17.33% =82.66%
e.229.95

(35.34/229.95)*100 =15.37%

 229.95-194.61 = 35.34 194.61 100%-15.37%=84.63%
f.870

(91.35/870) *100=

10.5%

 870-778.65 = 91.35 778.65 100%-7.5% = 92.5%

g.(46.5/93)*100=

50

 7%

50-46.5=

3.5

 46.5 100%-7%=93%

h.(1790/89.5)*100=2000

 10.5% 2000-1790=210 1790 100%-10.5%=89.5%

i.416.25+138.75=

555

(138.75/416.25)*100=

25%

 138.75 416.25 100%-25%=75%

j.999+111.5=

1110.5

(111.5/1110.5)*100=

10.04

 111.5 999 100%-10.04%= 89.96%

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