Three successive discount on the marked price of an article turns out to be equivalent to a single discount of 19%. If the rates of the first and second discount are 10% and 4% respectively, then what is the rate of 3rd discount?
Answer & explanation
Correct answer: option 2
Let three successive discounts are 10%, 4%, x%
equivalent discount for 10% & 4%
= 10 + 4 - \(\frac{10 × 4}{100}\) = 13.6
equivalent discount for all three equals to 19%
19 = 13.6 + x - \(\frac{13.6 × x}{100}\)
19 = 13.6 + x - 0.136x
0.864x = 5.4
x = 6.25