lilypadfrog
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LSDefine
Simple English definitions for legal terms
net price
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A quick definition of net price:
Net price refers to the actual price of a product or service after any discounts or deductions have been applied. It is the amount that a customer pays for a product or service, excluding any taxes or additional fees. For example, if a shirt is priced at $20 but is on sale for 10% off, the net price would be $18. This is the price that the customer would pay at the register.
A more thorough explanation:
Definition: Net price refers to the actual price of a product or service after any discounts or deductions have been applied. It is the amount that a buyer pays to the seller for the product or service.
Example: If a shirt costs $20 and there is a 10% discount, the net price of the shirt would be $18. This means that the buyer would pay $18 for the shirt after the discount has been applied.
Explanation: The example illustrates how net price is calculated by subtracting any discounts or deductions from the original price. In this case, the discount of 10% is applied to the original price of $20, resulting in a net price of $18. This is the amount that the buyer would actually pay for the shirt.