Okay so I had a doubt. The formula for successive % change is (a+b+{ab/100}). However, the formula for effective discount rate is (a+b-{ab/100}). (where a = first rate percent, b= second rate percent). Shouldn't the two formulaes be the same? Okay, so if we consider discount as a negative percentage increase, then the formula should become [-(a+b)+{ab/100}]
Any idea how it is becoming (a+b-{ab/100})?
Thanks in advance