Answer: A series trade discount of 9/21 means that the discount is calculated as a fraction of the list price. To find the net cost, we need to subtract the discount from the list price.
First, let's convert the fraction 9/21 to a decimal:
9 ÷ 21 = 0.4286 (approximately)
Now, we can calculate the discount:
Discount = List Price × Discount Rate = $96.38 × 0.4286 ≈ $41.33
Next, we subtract the discount from the list price to find the net cost:
Net Cost = List Price - Discount = $96.38 - $41.33 ≈ $55.05
So, the net cost of the item is approximately $55.05.
Step-by-step explanation:
