An item is marked at $120 and has a successive discount of 10% followed by 20%.

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Question: An item is marked at $120 and has a successive discount of 10% followed by 20%. What is the final price?

Options:

Correct Answer: $96

Solution:

First discount: 120 - (10/100 * 120) = 120 - 12 = $108. Second discount: 108 - (20/100 * 108) = 108 - 21.6 = $86.4.

An item is marked at $120 and has a successive discount of 10% followed by 20%. What is the final price?

An item is marked at $120 and has a successive discount of 10% followed by 20%. What is the final price?

Step 1: Start with the marked price of the item, which is $120.
Step 2: Calculate the first discount of 10%. To do this, multiply 10% by the marked price: 10/100 * 120 = $12.
Step 3: Subtract the first discount from the marked price: 120 - 12 = $108. This is the price after the first discount.
Step 4: Now, calculate the second discount of 20% on the new price of $108. Multiply 20% by $108: 20/100 * 108 = $21.6.
Step 5: Subtract the second discount from the price after the first discount: 108 - 21.6 = $86.4. This is the final price.

Successive Discounts – Calculating the final price after applying multiple percentage discounts sequentially.
Percentage Calculation – Understanding how to calculate a percentage of a given amount and apply it to find the new price.