Answer:
231
Explanation:
The phrase 3/15, n/45 is a credit term used to ascertain the discount allowed amount. The term means that should the buyer make full payment with in the first fifteen days, they get a 3% discount. If the payment is made on the 45 days, they make the net payment or nil discount.
The merchandise costs $7, 700, since payment was made on the 45th day, no discount will be allowed. If the buyer took advantage of a 3% discount, they would have saved.
3% of $7700
=3/100 x 7700
=0.03 x $7700
=231
