johnwf (johnwf) wrote in thequestionclub,
johnwf
johnwf
thequestionclub

A cash discount of $110 on an invoice for $5,500 represents a percentage cash discount of:

1. 0.02%
2. 2%
3. 12%
4. 22%

I put 2% but according to the answer key it's 0.02%, can anyone help explain why? I tried to find it online but I can't, is there a special rule for cash discounts? Damn, I thought I knew percents.
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