1. What is the difference between trade discount and cash discount? 2. Explain the following cash discount terms. a) 3/15, n/30 b) 1/10, n/20 c) 2/15, 1/30, n/60 d) Net 20 3. Amy, a furniture shop owner, buys a new set of furniture worth RM8,260. She receives an invoice dated 26 October 2009 with trade discounts of 7%, 2% and is offered cash discount terms 3/15,2/30, n/60. a) Calculate the single discount equivalent to the trade discounts given. b) Calculate the last day to receive the 2% cash discount. c) Determine the total amount due if Amy pays the invoice on 17 November 2009. d) If Amy pays RM4000 on 3 November 2009, how much is the balance due before the credit term ends? 4. The net price of an air conditioning unit after discounts of 5% and x% was RM1094.40. If the total discount was RM105.60, find the list price of the unit and the value of x.