BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$500
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$510.12
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$515.46
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$16, 666.67
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Detailed explanation-1: -It means that if the bill is paid within 10 days, there is a 1% discount. Otherwise, the total amount is due within 30 days.
Detailed explanation-2: -What Does 2/10 Net 30 Mean? 2/10 Net 30 refers to the trade credit offered to a customer for the sale of goods or services. 2/10 net 30 means that if the amount due is paid within 10 days, the customer will enjoy a 2% discount. Otherwise, the amount is due in full within 30 days.
Detailed explanation-3: -3/10 net 30 means a 3% discount if a customer pays within 10 days. Otherwise, the total amount is due within 30 days of the invoice date.
Detailed explanation-4: -If an invoice lists the terms 2/10 net 30, it means that if the customer/ buyer makes the payment on the purchased product or services within the due date, they may enjoy a 2% discount on the purchase price. Else, the full amount is due within 30 days.