JAMB Commerce 2012 Paper

Concept:Trade credit terms state the cash discount rate, the discount period, and the final credit period.Explanation:The customer receives a $3\%$ discount for paying within 9 days.So the discount rate is $3$ and the discount period is $9$ days.The full invoice is due within 30 days, so the net credit period is 30.Standard notation is $\text{discount rate}/\text{discount period}; \text{ net credit period}$.Therefore, this is written as $3/9; \text{ net }30$.Answer:Option A: $3/9; \text{ net }30$.