$1\mathrm{.}3$

REQUIRED

Use the information provided below to calculate the cost $($as a percentage, expressed to two decimal places$)$ to Troy Stores of not accepting the discount.

$(4$ marks$)$

INFORMATION

Tongaat Wholesaler's normal credit terms to Troy Stores are $60$ days but the supplier is prepared to allow a rebate of $4\mathrm{.}5\%$ if Troy Stores pays the account within $15$ days.