Question

6. On an invoice, the net amount is $2300, after the subtraction of discounts of 5%, 13%, 8.5%. What is the original amount? 7. GAP lists an article for $99.00 less 20% and 15%. A competitor carries the same article for $115.00 less 18%. What further discount correct to the nearest 1/10 of 1%) must the competitor allow so that its net price is the same as Deep Discount's? 8. True North Company received an invoice dated November 18 for a shipment of goods received November 21. The invoice was for $9255.00 less 40%, 13.375% with terms 5/10, 3/20, n/45. How much must Burke pay on December 2 to reduce its debt a) by $2000.00

Answer 1

So, Let oniginal amount xx(1-0'05) * (1-0013) X(1-0.005) = $ 230 0 axo g58o.87 x 0.915= $2300 x = $3041.332368 Invoice amount = $9 255 Net amount after successive discounts: $9255 x C1-0.40 x C1-0.13375) $4810.29 Payment by Burke on Dec 2 to reduce its debt Dec 2 falls after lo days but within 20 days to which 3% discount applies - a) To reduce its debt by $2000 - Payment to be made $2000 X (1-0'03) $ 1940