Cherie's Lawn and Garden received a shipment of live plants for a list price of 2,890. Cherie was given a series discount of 15/10. The terms of the invoice are 3/10, n/30. How much should Cherie pay if she pays within the discount period?
A) 2,803.30
B) 2,210.85
C) 2,144.52
D) 2,033.25
Q. 2Which shows how to find the net price equivalent with the series discount 15/20/10 using the complement method?
A) (0.15 0.2 0.1 ) price
B) 1 - (0.15 0.2 0.1 ) price
C) 1 - (0.85 0.8 0.9) price
D) (0.85 0.8 0.9 ) price
Q. 3Jamal's Carburetors shipped 14 carburetor rebuild kits to a customer. The price of each kit is 48.29. The customer receives a 35 trade discount. The shipping type is FOB destination at a cost of 67.50. What is the invoice total?
A) 415.82
B) 439.44
C) 652.43
D) 719.93
Q. 4A commercial lawn mower has a list price of 1,482.20. Jacob's Landscaping receives a 22 trade discount. How much is the discount?
A) 326.08
B) 296.44
C) 32.60
D) 29.64
Q. 5What is a trade discount?
A) A discount that is deducted after shipping charges have been added to an invoice
B) A discount from the list price which is deducted by the seller for specific buyers
C) A discount that is deducted by the buyer when payment is received within the discount period
D) The difference between 100 and the discount rate
Q. 6Ronco's Hardware received an invoice for 10,429.38, dated September 17, with terms 3/10, 2/30, n/45. The hardware store pays the invoice on October 5. How much should be paid?
A) 10,116.50
B) 10,220.79
C) 10,328.18
D) 10,429.38
Q. 7An invoice amount is 2,169.50 and the terms are 3/10 EOM. A partial payment of 750 is made within the discount period. What is the balance due on the invoice after the partial payment?
A) 1,396.30
B) 1,419.50
C) 1,491.50
D) 1,496.30
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