![Word Problem 7-23 [LU 7-1 (4)] Lucky you! You went to couponcabin.com and found a 25% off coupon to your significant others](http://img.homeworklib.com/questions/2c2ea120-7a7f-11ea-b4ae-6de7a4ba109f.png?x-oss-process=image/resize,w_560)
Homework Answers
When three successive discounts x%, y% and z% are applied , the equivalent single discount rate is given by
d= x+y+z - (xy/100+yz/100+xz/100-xyz/10000)
So, in this case,
d= 25+20+15 - (25*20/100 + 25*15/100+ 20*15/100 - 20*25*15/10000)
=49%
Savings = 49% * $300 =$147.00
Final Price = $300-$147 = $153.00
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