SOLUTION: A television set that originally cost $2340 was reduced in price by successive discounts of 20% 25% and 10%. What was the equivalent single rate of discount?

Question 1100327: A television set that originally cost $2340 was reduced in price by successive discounts of 20% 25% and 10%. What was the equivalent single rate of discount?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
I answered this very question a few days ago Question 1100013
It was posted in algebra in finance
20% off means he paid 80%
25% off means he paid 75%
10% off means he paid 90%
2340*.80*.75*.90=1263.60
1263.60/2340=0.54
54% of original price is a discount of 46%
.80*.75*.90=.54
.46*2340=1076.40
check
2340-1076.40=1263.60
ok
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