what is the actual cost.
you buy 12 rocking chairs wholesale. The invoice list price is $420. the series discounts are 20/10; the discounts are 3/10, 2/15, 1/25, 0/30. you pay the bill 12 days after recieving it.
2/15
To calculate the actual cost of buying 12 rocking chairs wholesale, we need to follow these steps:
Step 1: Calculate the net price after series discounts.
- Start with the invoice list price: $420.
- Apply the first series discount of 20/10 (20% off the first 10 chairs): 420 - (20/100) * 420 = $336.
- Apply the second series discount of 3/10 (3% off the next 10 chairs): 336 - (3/100) * 336 = $325.92.
- Apply the third series discount of 2/15 (2% off the next 15 chairs): 325.92 - (2/100) * 325.92 = $319.40.
- Apply the fourth series discount of 1/25 (1% off the next 25 chairs): 319.40 - (1/100) * 319.40 = $316.21.
- Finally, there is no fifth series discount (0/30): $316.21 remains the same.
Step 2: Calculate the payment due after the given number of days.
- If you pay the bill 12 days after receiving it, you need to calculate the interest accrued for those 12 days.
- The interest rate is given as 0/30, so there is no interest charged.
Step 3: Calculate the actual cost.
- Since there is no interest charged, the payment due after 12 days remains the same as the net price: $316.21.
Conclusion: The actual cost of buying 12 rocking chairs wholesale would be $316.21.