Question

On February 10th, EcoMart purchased $3.300 of merchandise with terms 2/10, 30. On February 12th, EcoMart returned $365 worth of merchandise. On February 13th, EcoMart paid the full amount due. How much cash did EcoMart pay on February 13th? (Round your answer to the nearest dollar).

Mumple Choice
A) $2,869
B) $3.300
C) $365
D) $2.935

Answer 1

EcoMart originally purchased merchandise worth $3,300 and returned $365 worth. After applying the early payment discount of 2% to the remaining balance of $2,935, EcoMart paid a total of $2,876 on February 13th.

Step-by-step explanation:

To determine how much cash EcoMart paid on February 13th, we need to take into account the returns and the discount for early payment. EcoMart originally purchased merchandise worth $3,300. With a return of $365, the new amount subject to the discount is $2,935 ($3,300 - $365). EcoMart is entitled to a 2% discount on this amount since payment is made within the 10-day period. The discount amounts to $58.70 (2% of $2,935), which when subtracted from $2,935, gives us the final amount paid by EcoMart.

The calculation is as follows:

• Original amount: $3,300
• Minus returns: -$365
• New amount: $2,935
• Discount (2% of $2,935): -$58.70
• Amount paid: $2,935 - $58.70

Therefore, after rounding to the nearest dollar, EcoMart paid $2,876 on February 13th.