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O-LevelCommerceFinance7100/12 · May/June 2014 · Q161 Mark

A school's monthly statement from a bookseller received on 7th May shows that it owes $800. The cash discount terms are 5% two weeks, 2.5% one month. The account is settled on 28th May. How much cash discount is given?

A$20

B$40

C$760

D$780

✓ Correct answer

A: $20

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About this question

Topic: Finance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, May/June 2014 Paper 1 Variant 2, question 16.

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