Homework Answers
Net Price is the price which includes trade discount or it could be defined as Price after trade discount.
List Price is the price before such discount.
Therefore $80.25 or the net price includes the trade discount of 15%.
Now to find out the list price we will use the formula : Net Price / (1 - Rate of Trade discount)
List Price = $80.25 / ( 1 - 0.15)
List Price = $80.25 / 0.85
List Price = $94.41 (Rounded to nearest cent)
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