Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

Exercise 53

Find the net cost equivalent and the single discount equivalent of the following series discounts. Do not round net cost equivalents or single discount equivalents. (See Example.)
Finding a Single Discount Equivalent
If the Optimum Energy Company offered a 20/10 discount to wholesale accounts on all heating, ventilation, and cooling systems, what was the single discount equivalent?
SOLUTION

The single discount equivalent of a 20/10 series discount is 28%.