The second store offered the better buy at the price of $92.00.
What is better buy?
Better buy refers to the lowest price out of the prices offered by the three stores.
In order to determine the lowest price, the no discount price of the first store needs to be compared to the prices of two other stores, bearing that after-discount price is the pre-discount price multiplied by 1 minus the discount rate.
First store price=$95.00
Second store after-discount price=pre-tax discount price*(1-discount rate)
pre-discount price=$115
discount rate=20%
Second store after-discount price=$115*(1-20%)
Second store after-discount price=$92.00
Third store after-discount price=pre-tax discount price*(1-discount rate)
pre-discount price=$105
discount rate=10%
Third store after-discount price=$105*(1-10%)
Third store after-discount price=$94.50
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