Problem

What single rate of discount is equivalent to the series of discounts: 13%,23%,25%, and 28% ?

Answer = % (written as a percentage rounded to two decimal places)

Answer

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Answer

Rounded to two decimal places, the equivalent single rate of discount is 63.83%

Steps

Step 1 :Let's start with an initial value of 100

Step 2 :Apply the first discount of 13%, which gives us a new value of 100(100×13100)=87

Step 3 :Apply the second discount of 23%, which gives us a new value of 87(87×23100)=66.99

Step 4 :Apply the third discount of 25%, which gives us a new value of 66.99(66.99×25100)=50.2425

Step 5 :Apply the fourth discount of 28%, which gives us a final value of 50.2425(50.2425×28100)=36.1746

Step 6 :The equivalent single rate of discount is the percentage decrease from the original value to the final value, which is (10036.1746)=63.8254%

Step 7 :Rounded to two decimal places, the equivalent single rate of discount is 63.83%

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