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The price for a bike after two successive discounts of 32% and 18% is $97
The price for a bike after two successive discounts of 32% and 18% is $97.58.
1. What is the single equivalent rate of discount?1
2. What is the price of the bike before the two discounts?
Price =
Expert Solution
1) Computation of Single Equivalent Rate of Discount:
Single Equivalent Rate of Discount = 1 - (1-D1%) * (1-D2%)
= 1 - [(1- 32%) * (1-18%)]
= 1 - [(0.68) * (0.82)]
= 1 - 55.76%
Single Equivalent Rate of Discount = 0.4424 i.e 44.24%
2) Computation of Price of Bike after two discounts:
Price of Bike after two discounts = Final Price after two discounts / (1-Single equivalent rate of discount)
= $97.58 / (1-44.24%)
= $97.58 / 0.5576
Price of Bike after two discounts = $175
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