Question

You've received an invoice for $3,000 with terms of 3/10, 1/20, n/30. How much will you have to pay if you pay the bill in 12 days?
A. $2,910
B. $3,030
C. $2,970
D. $3,000

Answer 1

Hi there

3/10 means if you pay the bill within 10 days you will get a discount for 3%

1/20 means if you pay the bill within 20 days you will get a for 1%

N/30 means if you pay the bill within 30 you will not get any discount

you paid the bill within 12 days soso you will get a discount for 1%

3,000−3,000×0.01
=2,970

Hope it helps