you've received an invoice for $3000 with terms of 3/10, 1/20, n/30 how much will you have to pay if you pay the bill in 12 days
To calculate how much you will have to pay if you pay the bill in 12 days, we need to understand the terms given. "3/10, 1/20, n/30" is a common notation used for trade discounts and credit terms.
The first number (3) represents the percentage discount you can take if you pay within a specified time frame. In this case, you will get a 3% discount if you pay within the first 10 days.
The second number (10) represents the number of days within which you have to pay to qualify for the discount.
The third number (1) represents the percentage discount you can take if you pay within a second specified time frame. In this case, you will get a 1% discount if you pay within the next 20 days.
The fourth number (20) represents the number of days within which you have to pay to qualify for the second discount.
The final term "n/30" means the net amount is due within 30 days, without any discount.
Now, let's calculate how much you will have to pay if you pay the bill in 12 days.
First, check if you can take the first discount. Since 12 days is less than the given 10-day period, you can take the 3% discount.
Calculations:
Original amount: $3000
Discount (3%): $3000 * 0.03 = $90
The amount after the first discount:
Discounted amount = Original amount - Discount = $3000 - $90 = $2910
You are now left with a discounted amount of $2910.
Since you cannot qualify for the second discount (12 days is less than 20 days), you will have to pay the net amount of $2910 within 30 days.
Therefore, if you pay the bill in 12 days, you will have to pay $2910.