If you're paying a bill for the office that has "5%, 10 days" stamped across it, how much would you write a check for if you wer

Question

Rom4ik [11]

3 years ago

15

If you're paying a bill for the office that has "5%, 10 days" stamped across it, how much would you write a check for if you wer

e paying a $100 bill 6 days from the date of invoice?

Business

1 answer:

Goryan [66] · Answer 1 · 2022-02-03T17:16:26+03:00

A check will be written with the amount of $95. A sales discount, like 5%, 10days, simply means, you'll get 5% discount if paid within 10 days from the date of invoice.

If you pay within the discount period, say 6 days from the invoice date, instead of paying $100, you'll pay just $95 ($100 × 95%). Computed another way as, ($100 - ($100 × 5%)).