An article is listed at ₹ 5,000 and two successive discounts of 12% and 12% are given on it. How much will the seller gain or lose if he gives a single discount of 24%?
Answer & explanation
Correct answer: option 1
Price of the product = 5000
Discounts = 12% and 12% successively
And a single discount of = 24%
so in this type of questions when the sum of both the discounts that are given successively and single is same then the difference between them is always = \(\frac{x × y}{100}\)
So, the loss = \(\frac{12 × 12}{100}\) = 1.44%
1.44% of 5000 = ₹72