You just purchased $8,700 of goods from your supplier with credit terms of 3/10, net 30. What is the discounted price?

Name: You just purchased $8,700 of goods from your supplier with credit terms of 3/10, net 30. What is the discounted price?
Brand: Quizplus
Rating: 4.7 (50 reviews)

Question

Quizplus · Accepted Answer

The discounted price can be calculated by applying the discount to the total amount. The credit terms of 3/10, net 30 mean you get a 3% discount if you pay within 10 days. Thus, the discounted price is $8,700 - ($8,700 * 0.03) = $8,700 - $261 = $8,439.

You Just Purchased $8,700 of Goods from Your Supplier with Credit