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Cost of giving Cash Discount

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Tangston Mining was extended credit terms ov 3/15 net 30 EOM. The cost of giving up the cash discount, assuming payment would be made on the last day of the credit period is:

a)75.26%,
b) 16.56%,
c)72.99%,
d) 37.12%.

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Solution describes the steps to find out the cost of giving up a cash discount.

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Solution:

If purchases are made before 25 th of one month,
3/15 net 30 EOM means

3% discount is offered if paid on or ...

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  • BEng (Hons) , Birla Institute of Technology and Science, India
  • MSc (Hons) , Birla Institute of Technology and Science, India
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