Question : If the successive discounts be 20%, 10%, and 5%, then the single equivalent rate of discount is:
Option 1: 31.6%
Option 2: 31.5%
Option 3: 31%
Option 4: 31.4%
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Correct Answer: 31.6%
Solution :
We know,
Equivalent discount = $(a+b–\frac{a×b}{100}$)%,
Where $a,b$ are successive discounts.
So, $20+10-\frac{20\times 10}{100}=28$%
Now again $a = 28$% and $b = 5$%
So, $28+5-\frac{28\times 5}{100}=31.6$%
Hence, the correct answer is 31.6%.
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