Question

You've received an invoice for $3,000 with terms of 3/10, 1/20, n/30. How much will you have to pay if you pay the bill in 12 days?

Answer 1

0.01 * 3,000 = 30

$3,000 - 30 = ?

Answer 2

Bill is paid at 12th day. so it satisfies 1/20 condition
This means 1% discount on $3000.
This gives $30.

Thus to pay $(3000 - 30)

Answer 3

A distributor lists an item for $85 less 20%. To improve lagging sales, the net price of the item is reduced to $57.80. What additional rate of discount does the distributor offer