Find the effective price percentage of the marked price after three consecutive discounts of 8%, 16% and 3%. (Rounded up to two decimal places.)​

Correct option is B

Given:

The marked price of an item.

Three consecutive discounts: 8%, 16%, and 3%.

Formula Used:

The effective price after successive discounts can be calculated using the formula:

Effective Price Percentage = (1 - First Discount) × (1 - Second Discount) × (1 - Third Discount) × 100

First Discount = 8% = 0.08

Second Discount = 16% = 0.16

Third Discount = 3% = 0.03

Solution:

Convert the discounts into decimal form:

First Discount = 8% = 0.08

Second Discount = 16% = 0.16

Third Discount = 3% = 0.03

Calculate the effective price percentage:

Effective Price Percentage = (1 - 0.08) × (1 - 0.16) × (1 - 0.03) × 100

= 0.92 × 0.84 × 0.97 × 100

= 0.92 × 0.84 = 0.7728

0.7728 × 0.97 = 0.7492

0.7492 × 100 = 74.92%

The effective price percentage after three consecutive discounts of 8%, 16%, and 3% is 74.92%.