Hyabuza Japanese Restaurant received an invoice, dated February 20, 2011, for supplies they ordered that had a list price of $2,700 from a supplier that offered a series discount of 15/8/4 and carried terms of 3/10, 1/15, n/30. How much should the restaurant remit if the bill is to be paid in full on March 1, 2011?

Question

Quizplus · Accepted Answer

First, apply the series discount: $2,700 * (1 - 0.15) * (1 - 0.08) * (1 - 0.04) = $2,026.94. Then, apply the 3% discount for paying within 10 days: $2,026.94 * (1 - 0.03) = $1,966.13.

Hyabuza Japanese Restaurant Received an Invoice, Dated February 20, 2011