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Q1) An invoice for 20000 for a shipment of furniture with terms 3/10 , n:40n If the retailer can borrow money at the simple rate

Q1) An invoice for 20000 for a shipment of furniture with terms 3/10 , n:40n

  1. If the retailer can borrow money at the simple rate 21%find the profit if he pays on the 10th days
  2. What is the highest simple interest rate at which he can afford to borrow

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