SOLUTION: Successive discounts of 20% and 12% are equivalent to a single discount of what?

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Question 1101768: Successive discounts of 20% and 12% are equivalent to a single discount of what?
Found 2 solutions by josgarithmetic, greenestamps:
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
12% on the original or 12% on the previous discount result?

Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


To me, at least, "successive discounts" clearly means the second discount is on the already discounted price....

When the price is discounted 20%, 80% of the price remains. If the original price is x, then the discounted price after the first discount is 0.80x.

When THAT price is reduced by 12%, 88% of it remains. The price after the second discount is 0.80x+%2A+0.88+=+0.704x

The new price is 70.4% of the original price; the effective discount is 100-70.4 = 29.6%.