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Tei Ltd offered 1,560 units of magazines at N60 each. Trade discount is 10%  and...

Accounts - Principles of Accounts
WAEC 2018

Tei Ltd offered 1,560 units of magazines at N60 each. Trade discount is 10%  and cash discount is 10% within 30 days and 5% within 60 days.

The cash discount allowed on the 50th day is?

  • A. 9360
  • B. 8,424
  • C. 4680
  • D. 4212
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Correct Answer: Option C
Explanation

Unit cost = 60
Quantity = 1560
60 x 1560 = 93600

Cash discount = \(\frac{5}{100}\) x 93600 = 4680

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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now