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Help me to calculate ,THX

Forums › FIA Forums › FA1 Recording Financial Transactions Forums › Help me to calculate ,THX

  • This topic has 2 replies, 2 voices, and was last updated 7 years ago by ericasiewyongjie.
Viewing 3 posts - 1 through 3 (of 3 total)
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    Posts
  • November 24, 2015 at 6:30 am #284825
    ericasiewyongjie
    Member
    • Topics: 5
    • Replies: 1
    • ☆

    Benny buys goods with a list price of $4360 on which he receives 10% trade discount.His supplier offers 5% discount for payment within 10 days.Benny pays half of the invoiced amount within 10 days and the balance 3 weeks later.

    What is the total amount money that he will pay for his order?

    A.$3825.90
    B.$3727.80
    C.$4142.00
    D.$3706.00

    November 24, 2015 at 8:47 am #284857
    erickjoseph
    Participant
    • Topics: 3
    • Replies: 6
    • ☆

    Hi Benny,
    The correct answer is A. Below is the calculation procedures.

    4960*90%= 3924 (this is amount after removing the trade discount.)
    3924*95%= 3727.8 (amount that could be paid if he paid the full amount in 10 days)

    however, he only paid half of the debt. This means that he paid
    3727.8/2 = 1863.9

    the rest of the debt amount was paid without any cash discount. This means the remaining half was 3924/2 = 1962.00

    Thus the amount of money on the pay order = $1962.00+$1863.90 = $3825.90

    November 24, 2015 at 9:32 am #284863
    ericasiewyongjie
    Member
    • Topics: 5
    • Replies: 1
    • ☆

    Thank you ^^

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