A discount series of 10%, 20% and 40% is equal to a single discount

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A discount series of 10%, 20% and 40% is equal to a single discount of ?

1. 50%
2. 56.8%
3. 60%
4. 70.28%

Correct Option: B

Let original price = Rs. 100
Price after first discount = Rs. 90
Price after second discount = Rs. (80 x 90)/100 = Rs. 72
Price after third discount = Rs. (60 x 72)/100 = Rs. 43.20
∴ Single equivalent discount = (100 - 43.20) = 56.8%