Question

fill in the blank in the following statement.
the wholesale price of a tv is 30% less than retail price. therefore, the wholesale price is ____ times the retail price.

the wholesale price is $square$ times the retail price.
(type an integer or a decimal )

Explanation:

Step1: Define retail price as variable

Let the retail price be $P$.

Step2: Calculate discount amount

Discount = $30\% \times P = 0.3P$

Step3: Compute wholesale price

Wholesale price = $P - 0.3P = 0.7P$

Step4: Find ratio to retail price

$\frac{\text{Wholesale price}}{\text{Retail price}} = \frac{0.7P}{P} = 0.7$

Answer:

0.7