Market Price = Rs.18500
First Discount = 20%
Second Discount = 5%
The formula for total discount in case of successive discounts:
If the first discount is x% and 2nd discount is y% then,
Total Discount =
\([(x\,+\,y)-\frac{xy}{100}]\%\)
\([(20\,+\,5)-\frac{20\,\times\,5}{100}]\%\)
\((25-\frac{100}{100})\%\)
Discount = (24% of Rs.18500)
= Rs.4440
Selling Price = Market Price – Discount
= 18500 – 4440
= Rs.14060