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Coles has cut the price of Cadbury's chocolate bars by 20%. Their normal price is $3.45. A shareholder who has a Coles-Myer discount card is also entitled to a further discount of 7.5%. What would a shareholder save on the normal price?

Verified Answer :

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The first discounted price is given through the equation,
                              discounted price = ($3.45)(1 - 0.20) = $2.76
Then, due to the privilege of being a Coles-Myer discount card holder, another 7.5% discount is given. Such that the final price would be,
                              final price = ($2.76)(1 - 0.075) = $2.553
The total amount saved up is equal to,
                                    $3.45 - $2.553 = $0.897

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