A company purchased $4,000 worth merchandise. Transportation costs were an additional $350. The company later returned $275 worth of merchandise and paid the invoice with the 2% cash discount period. The total amount paid for this merchandise is:

$4000.50

Explanation:

Given: Worth of merchandise purchased= $4000.

           Transportation cost= $350.

            Merchandise returned= $275

            2% cash discount provided.

First finding the percent of invoice paid.

we know, 2% cash discount been provided.

Total invoice paid=

∴ Percent of invoice paid for merchandise is 98%.

Now, let´s find the Total amount of merchandise purchased.

Total amount of merchandise purchased=

⇒ Total amount of merchandise purchased=

∴  Total amount of merchandise purchased is $3725

Amount of invoice paid after discount.

Invoice paid=

⇒ Invoice paid=

∴ Invoice paid= $3650.50

Next, finding the total amount paid for the merchandise.

Total amount paid of merchandise =

⇒ Total amount paid of merchandise =

∴ Total amount paid for the merchandise is $4000.50

Hence, Cost of merchandise is the amount paid for the merchandise, which is $4000.50.

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