Using Multiple Discounts To Save Money
This is the time of year that you might be able to purchase store Gift Cards at a discount. For example, my local Fleet store is offering 10% off Gift Cards purchased this week. I picked up enough Gift Cards for my estimated purchases for the next year. On top of that, I used my rewards credit card and will get another 1.5% for the purchase of those Gift Cards. Yesterday, I bought some open "Oops" 50# bags of feed at 25% off, normal price $13.49. So, what is my real savings on this purchase and/or what is the actual discount percentage I got after all my discounts?
Fortunately, we have computer tools that can figure that out quickly. I entered my info into Microsoft Copilot AI and this is what I learned....
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Let's break down the calculations step by step.
### Initial Price and Discounts
1. **Item Price**: $13.49
2. **25% Discount on the Item**:
\[
\text{Discounted Price} = 13.49 \times (1 - \frac{25}{100}) = 13.49 \times 0.75 = \$10.1175
\]
3. **10% Discount on the Gift Card**:
\[
\text{Gift Card Price} = 10.1175 \times (1 - \frac{10}{100}) = 10.1175 \times 0.90 = \$9.10575
\]
4. **Additional 1.5% Discount on the Gift Card**:
\[
\text{Final Price} = 9.10575 \times (1 - \frac{1.5}{100}) = 9.10575 \times 0.985 = \$8.96726
\]
### Total Discounted Price
The final price after all discounts is **\$8.96726**.
### Actual Discount Percentage
To find the total discount percentage, we compare the final price to the original price.
1. **Total Savings**:
\[
\text{Total Savings} = 13.49 - 8.96726 = \$4.52274
\]
2. **Actual Discount Percentage**:
\[
\text{Discount \%} = \left( \frac{4.52274}{13.49} \right) \times 100 \approx 33.53\%
\]
So, your
total discounted price is **$8.97** (rounded to two decimal places), and the
actual discount percentage is approximately **33.53%**.
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Sometimes I like to look at the numbers to see if my system is actually saving me money. It is. I got a couple bags of feed for less than $9.00 each when you consider all those discounts. That's a pretty good deal for me.