Question

A bedroom set lists for $7,000 and carries a trade discount of 20 percent. Freight (FOB shipping point) of $120 is not part of the list price. Calculate the final price (also include cost of freight) of the bedroom set assuming terms of 2/10, n/30 ROG. The date of the invoice was July 10 with the goods being received August 11. The bill was paid on August 20.

SOMEONE PLEASE HELP!!!!!!!!!!!!!!!!PLEASE!!!!!!!!!!!!!!

Answer 1

turn 20% into a decimal by dividing by 100 and get .20
then multiply 7,000 by .20 and get 1,400
so its a $1,400 discount so subtract 1,400 from 7,000 and get 5,600
then add 5,600 and 120 and get 5,720
So the total price is $5,720
Hope this helped! :))

Answer 2

Final price terms 5605,6

Explanation:

If the terms are net due upon receipt of goods (or nROG, or n/ROG — “n” standing for “net”), the invoice amount is due when the customer receives the goods.

Cost 7000

% discount 20%

1400

Final Payment 5600

Add freigth 120

Final price w/terms 5720

Terms 2/10

114,4

Final price terms 5605,6