SOLUTION: A television set that originally cost $5500 was reduced in price by successive discounts of 15%, 30% and 20%. What was the equivalent single rate of discount?

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Question 1170154: A television set that originally cost $5500 was reduced in price by successive discounts of 15%, 30% and 20%. What was the equivalent single rate of discount?
Answer by ikleyn(52781)   (Show Source): You can put this solution on YOUR website!
.

The equivalent single rate of discount was  


    1 - (1-0.15)*(1-0.3)*(1-0.2) = 1 - 0.85*0.7*0.8 = 0.524,  or 52.4%.    ANSWER

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    - Percentage problems on chains of discounts
in this site.



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