An item is marked at $300 and has two successive discounts of 5% and 10%. What i

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Question: An item is marked at $300 and has two successive discounts of 5% and 10%. What is the final selling price?

Options:

Correct Answer: $280

Solution:

First discount: 300 - (5/100 * 300) = 300 - 15 = $285. Second discount: 285 - (10/100 * 285) = 285 - 28.5 = $256.50.

An item is marked at $300 and has two successive discounts of 5% and 10%. What is the final selling price?

An item is marked at $300 and has two successive discounts of 5% and 10%. What is the final selling price?

Step 1: Start with the marked price of the item, which is $300.
Step 2: Calculate the first discount of 5%. To do this, multiply 300 by 5% (or 0.05). This gives you 300 * 0.05 = $15.
Step 3: Subtract the first discount from the marked price. So, $300 - $15 = $285.
Step 4: Now, take the new price of $285 and calculate the second discount of 10%. Multiply 285 by 10% (or 0.10). This gives you 285 * 0.10 = $28.50.
Step 5: Subtract the second discount from the new price. So, $285 - $28.50 = $256.50.
Step 6: The final selling price after both discounts is $256.50.

Percentage Calculation – Understanding how to calculate percentages and apply them to a base amount.
Successive Discounts – Applying multiple discounts sequentially rather than cumulatively.
Final Selling Price Calculation – Determining the final price after applying discounts.