The Solution:
The listing price of the Skis by a manufacturer is $850.
A trade discount of 35% was allowed.
[tex]\begin{gathered} 35\text{ \% of \$850=0.35}\times850=\text{ \$297.50} \\ \text{Price}=850-297.50=\text{ \$552.50} \end{gathered}[/tex]Allowing an extra discount of 18%, we get
[tex]\begin{gathered} 18\text{ \% of \$}552.50=0.18\times552.50=\text{ \$99.45} \\ \text{Price}=552.50-99.45=\text{ \$453.05} \end{gathered}[/tex]We are required to find what further rate of discount should be given to bring the net price to $446.00
[tex]\begin{gathered} 453.05-446.00=7.05 \\ To\text{ find the required percentage of discount, we have} \\ \frac{7.05}{453.05}\times100=0.0155612\times100=1.55612\approx1.56\text{\%} \end{gathered}[/tex]Therefore, the correct answer is 1.56%
