A single discount equivalent to the series of discounts 15%, 10% and 5% is equal to:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 27.325%.
Single equivalent discount of x and y = x + y - xy/100
We have,
Discount1 = 15%, Discount2 = 10% and Discount3 = 5%
Single equivalent discount of 15% and 10% = 15 + 10 - 150/100 = 23.5%
Now, a Single equivalent discount of 5% and 23.5% = 5 + 23.5 - (5 × 23.5)/100
⇒ 28.5 - 1.175 = 27.325%
Hence, the required single equivalent discount is 27.325%.