Question 1208865: A television set that originally cost $1955 was reduced in price by successive discounts of 5%, 8% and 24%. What was the equivalent single rate of discount?
Answer by ikleyn(52775)   (Show Source):
You can put this solution on YOUR website! .
A television set that originally cost $1955 was reduced in price by successive discounts
of 5%, 8% and 24%. What was the equivalent single rate of discount?
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Let X be the original cost, "e" be the equivalent discount for these three
successive discounts, as a decimal value.
Then
(1-e)X = (1-0.05)*(1-0.08)*(1-0.24)X.
Cancel X in both sides. You will get
1 - e = 0.95*0.92*0.76 = 0.66424,
e = 1 - 0.66424 = 0.33576.
The equivalent discount is 0.33576, or 33.576%. ANSWER
Solved.
The answer does not depend on the original cost value, which is $1995 in this problem.
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