20% discount is offered on an item. By applying a promo code Rishi wins 4% cash back. What is the equivalent single discount?
Answer & explanation
Correct answer: option 2
Discount = 20%
Cashback = 4%
Equivalent single discount = x + y - \(\frac{x × y}{100}\)
= 20 +4 - \(\frac{20 × 4}{100}\) = 23.20%