A manufacturer offers a20% rebate on the marked price of a product. The retailer offers another 30%rebate on the reduced price. Find the single equivalent reduction of the two reductions.
Please help!
what is
1 - .8(.7) ?
Thanks reiny. I got it. and I also got how u got it
To find the single equivalent reduction of the two discounts, you need to first calculate the final price after both discounts have been applied.
Let's assume the marked price of the product is $100.
First, you apply the 20% manufacturer's rebate to get the reduced price:
Manufacturer's rebate = 20% of $100 = $20
Reduced price = $100 - $20 = $80
Next, you apply the retailer's 30% rebate to the reduced price:
Retailer's rebate = 30% of $80 = $24
Final price = Reduced price - Retailer's rebate = $80 - $24 = $56
Now, to find the single equivalent reduction, subtract the final price from the marked price:
Single equivalent reduction = Marked price - Final price = $100 - $56 = $44
Therefore, the single equivalent reduction of the two discounts is $44.