The discount is 8,400 and you pay 111,600.
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To find 7 percent of a number, multiply the number by 0.07. In this instance, 0.07 x 120000 = 8400. Therefore, 7 percent of 120000 is equal to 8400.
2% of 120,000 = 2% * 120000 = 0.02 * 120000 = 2,400
70% of 120,000= 70% * 120000= 0.7 * 120000= 84,000
120000 X 0.03 = 3600
20 ÷ 100 × 120000 = 24000