False, if we take successive discounts 15% off and then 25% off is not same as taking 40% off at a time.
Explanation:
Let Cost price = 100/-


After 15% discount on 100 Cost price is = 100 – 15 = 85
Again on RS. 85/- there is a discount of 25%


After successive discount of 15% off and then 25% off on Cost price = 85 - 21.25 = 63.75
On the other hand
If 40% discount on the Cost price = 100/-


After successive discount of 40% off on Cost price = 100 – 40 = 60
The cost price by taking successive discount of 15% and 25% off is not same as discount of 40%
Therefore this is false.