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What is the difference between discount &rebate?
Answers (2)
The major difference is discount is provided to encourage sales. It is provided on all object eg) for a 50% discount on wheat you will get discount of 50% on purchase when u buy 1 kg or 2kg Rebate is provided on bulk purchases or when your purchase crosses a limit eg) 50%discount on wheat for a purchase above 10 kgs. In this scenario u can get rebate only when u cross the 10 kg limit I've explained superficially but for detailed explanation read this article https://keydifferences.com/difference-between-discount-and-rebate.html
Oops sorry, I missed to notice the title BOE I explained about discount and rebate on general purchases In BOE discount is provided when u encash the bill with bank before date of maturity ie) discounting of bills Rebate is provider when payor retires the BOE before it's due date or maturity date The main aim to provide rebate is to encourage payor to retire bills early or to encourage prompt payment While discount on bill is way of short term financing provided by bank the discount charged on bill is actually the interest charged by bank on the amount