We’ve recently became aware of a retail sales strategy, where an items(s) are labeled as “xx% off with an additional xx% off”. In theory, the double discount is a very good thing. However, in practice you do have to be careful not the simply add the two percentages together to come up with the discount.
Example: 30% off + an additional 30% off doesn’t equal 60% off. It equals 51% off (30% off $100 is $70, the second 30% of taken off of $70, which is $49 – not 40, which would be the case if it was 60% off)
But since our brains like to make things easier, we think it’s the lower number $40 off. So how do we get around this? Well, we figured out a mathematical way to figure out the true discount (cause who says that fashionistas can’t be great at math). It’s kinda of clunky, but an added benefit is that doing the math gives a second to think about your purchase.
How to Figure Out Your Double Discount
1. Add the two percents together (ex: 40% + 40%= 80%)
2. Put a decimal point between the numbers in each percent and multiple the single numbers together (ex: 4 x 4= 16)
3. Subtract that number from the sum of the first two percentages (ex: 80- 16= 64% is your discount)
For those of you less mathematically inclined (or just lazy)- just use the calculator on your cellphone. Remember that the second percent off is taken on the amount left AFTER the first percent is taken off.