SOLUTION: Given a chain discount of 15/12 what will the single equivalent discount rate be?

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Question 1129157: Given a chain discount of 15/12 what will the single equivalent discount rate be?
Answer by MathLover1(20850) About Me  (Show Source):
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Given a chain discount of 15%2F12 what will the single equivalent discount rate be?

15%2F12 means a customer might be offered 15% off the list price of a particular product and then a further 12% for purchasing in volume
Single equivalent discount = Chain Discounts / List Price
In general the single equivalent rate can be calculated using the SED formula which can be stated as follows:

SED+=+1+-+%281-15%29% * %281-12%29%
SED+=+1+-+%281-0.15%29+%2A+%281-0.12%29+
SED+=+1+-+%280.85%29+%2A+%280.88%29+
SED+=+1+-+0.748

SED+=+0.252 -> the single equivalent discount rate (25.2%)