Successive discounts of 12% and 13% are equivalent to what single discount?

We are asked: Successive discounts of 12% and 13% are equivalent to what single discount?

Step 1: Formula for successive discounts

Equivalent single discount $D = d_1 + d_2 - \frac{d_1 \cdot d_2}{100}$

Step 2: Substitute $d_1 = 12$, $d_2 = 13$

$D = 12 + 13 - \frac{12 \cdot 13}{100} = 25 - 1.56 = 23.44$

✅ Equivalent single discount = 23.44%