Question
Download Solution PDFWhat is the equivalent single discount of two successive discounts of 12% and 10%?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Two successive discounts of 12% and 10%.
Formula Used:
Equivalent discount = 100% - [(100% - discount1) × (100% - discount2)]/100%
where discount1 and discount2 are the two successive discounts given.
Solution:
Substituting discount1 = 12% and discount2 = 10% in the formula, we get:
Equivalent discount = 100% - [(100% - 12%) × (100% - 10%)]/100%
= 100% - [(88%) × (90%)]/100%
= 100% - 79.2%
= 20.8%
Therefore, the equivalent single discount of two successive discounts of 12% and 10% is 20.8%.
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