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      Question

      A manufacturer offers a 30% rebate on the marked

      price of a product. The retailer offers another 40% rebate on the reduced price. The two reductions are equivalent to a single reduction of:
      A 55% Correct Answer Incorrect Answer
      B 58% Correct Answer Incorrect Answer
      C 49% Correct Answer Incorrect Answer
      D 40% Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Let Marked price = Rs.100 Price after both the rebates = 100 × `(70xx60)/(100xx100)` = Rs. 42 Single reduction = 100 - 42 = 58%

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