What single rate of discount is equivalent to the series of discounts:
Answer =
Rounded to two decimal places, the equivalent single rate of discount is
Step 1 :Let's start with an initial value of
Step 2 :Apply the first discount of
Step 3 :Apply the second discount of
Step 4 :Apply the third discount of
Step 5 :Apply the fourth discount of
Step 6 :The equivalent single rate of discount is the percentage decrease from the original value to the final value, which is
Step 7 :Rounded to two decimal places, the equivalent single rate of discount is