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A sole trader purchased goods in cash worth N2000 at 2% discount and made a...

Accounts - Principles of Accounts
JAMB 2007

A sole trader purchased goods in cash worth N2000 at 2% discount and made a cash sale of N1000 at the same rate of discount. Determine the amount of discount allowed?
  • A. N20
  • B. N40
  • C. N400
  • D. N200
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Correct Answer: Option A
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