Determine the equivalent single rate of discount for the following series of discounts: 15%, 12.5%, 8%.

Question

Quizplus · Accepted Answer

To find the equivalent single rate of discount for a series of discounts, you multiply the individual rates as complements of 1 (meaning, you subtract each from 100% or 1). For discounts of 15%, 12.5%, and 8%, you calculate as follows: $1 - (1 - 0.15) \times (1 - 0.125) \times (1 - 0.08)$. This equals $1 - (0.85 \times 0.875 \times 0.92) = 1 - 0.68425 = 0.31575$ or 31.575%.

Determine the Equivalent Single Rate of Discount for the Following