Brooks Brothers bought a suit that has a list price of $1,219, with a chain discount of 7/4/2. What is the net price of the suit?

A chain discount of 7 / 4 / 2 means that we have first a 7 % discount, than a 4 % discount, and than a 2 % discount.

Net Price = Original Price x Net Price Factor

Net Price Factor = (1 - 0.07) * (1 - 0.04) * (1 - 0.02) =

= 0.93 * 0.96 * 0.98 = 0.874994

Net Price = $1,219 * 0.874944 = $1,066.56