Question

A pharmacist orders medications for a total of 56,439.65. A 6 45 discount is given if payment is made within 15 days, and a 2.5% discount is given if payment is made within 30 days. How much money can hed by paying in 15 days instead of 30 days?

Answer 1

The pharmacist can save $2,229.76 by paying the medication order within 15 days instead of 30 days, after applying the respective discounts of 6.45% and 2.5%.

Step-by-step explanation:

The student has asked about calculating the amount of money saved by paying within 15 days instead of 30 days given two different discount rates. To find the savings, we first need to deduct the respective discounts from the total medication order amount and then compare the two results.

For a 6.45% discount on a total amount of $56,439.65, the savings when paying in 15 days is calculated as:
$56,439.65 × 0.0645 = $3,640.75 (savings amount for 15 days)

For a 2.5% discount on the same amount, the savings when paying in 30 days is:
$56,439.65 × 0.025 = $1,410.99 (savings amount for 30 days)

The difference in savings between paying in 15 days versus 30 days is:
$3,640.75 - $1,410.99 = $2,229.76

Therefore, by paying within 15 days instead of 30 days, the pharmacist can save $2,229.76.