Question

A hotel purchases goods for $5,000 on credit. If the supplier offers terms of 2/10, n/30, what is the amount the hotel will pay if it pays within the discount period?.

Answer 1

A hotel uses credit to make a $5,000 purchase of goods. if the vendor offers 2/10, n/30 terms. Therefore, the hotel will have to pay $4,900 if it pays inside the discount period.

Cost of purchasing goods on credit - (Cost of purchasing goods on credit Discount rate) equals the discounted amount to be paid.

$5,000 -( $5,000 × 2%)

$5,000 - $100

$4,900

As a result, if the hotel purchases items for $5,000 on credit, the amount it will be required to pay if it pays during the discount period is: $4,900.

A sales discount, usually referred to simply as a "discount," offers clients of a business a lower price on one or more of the goods or services being provided.

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