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WAEC Accounting 2024 Paper

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Question : 41

Total: 50

Use the following information to answer this question.

Ade bought goods worth le 30,000 from Ode and was given a 7.5% discount.

Le 32,250.
Le 30,000.
Le 27,750.
Le 2,250.

Solution:

Concept:

A discount reduces the original cost, so the amount paid is less than the list price.

Explanation:

Goods cost

= \mathrm{Le}\,30,000

.

Discount rate

= 7.5\%

.

Discount amount

= 30,000 \times \frac{7.5}{100} = \mathrm{Le}\,2,250

.

Amount paid

= \mathrm{Le}\,30,000 - \mathrm{Le}\,2,250 = \mathrm{Le}\,27,750

.

Answer:

Ade paid

\mathrm{Le}\,27,750

, which is Option C.

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