Successive discounts of 16% and 7% are equivalent to a single discount of:

Successive discounts of 16% and 7% are equivalent to a single discount calculated as follows:

Let the marked price be 100.

After 16% discount:
Price = $100 \times (1 - 0.16) = 100 \times 0.84 = 84$

After additional 7% discount:
Price = $84 \times (1 - 0.07) = 84 \times 0.93 = 78.12$

Final price = 78.12

Total discount = 100 - 78.12 = 21.88

Equivalent single discount = 21.88%

Shortcut Formula

Equivalent discount
$= a + b - \dfrac{ab}{100}$

$= 16 + 7 - \dfrac{16 \times 7}{100}$

= 23 - 1.12

= 21.88%

Final Answer:

21.88%