Pharmacy Tech Business Math
A wholesaler your pharmacy orders medical devices from has a policy of offering a discount on invoices paid in full, within 5 business days of receipt. The discount is 10%, or 15% on orders over one thousand dollars. On Wednesday July 6, an order totaling $1,489.36 was received. Accounting electronically paid the invoice the following Tuesday. What amount should they have paid?
How to solve:
1) The first issue to determine in this question is if the bill was paid within the 5 business days.
Business days are weekdays that don't fall on a federally designated holiday.
So, let's look on a calendar to see if accounting paid in time to get the discount:
2) The question states the discount will be 15%, since the order is OVER $1,000.
On a calculator, figure out what 15% is.
Always round up to the nearest cent during this type of calculation.
3) Subtract the 15% discount to get the answer.
This is your answer:
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