n item is 10000, payable in 10 days but if paid in 30 days there will be a P30 discount. Find the rate of simple interes

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 14P
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The price of a certain item is 10000, payable in 10 days but if paid in 30 days there will be a P30 discount. Find the rate of simple interest?

 

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