A store offers a discount on a product that originally costs $80. After applying a 25% discount, customers also receive an additional 10% off the discounted price. What is the final price of the product after both discounts are applied?
First, let's calculate the price of the product after the initial 25% discount:

Discounted price = Original price * (1 - Discount rate)
                          = $80 * (1 - 0.25)
                          = $80 * 0.75
                          = $60

Next, we apply the additional 10% discount to the already discounted price:

Final price = Discounted price * (1 - Additional discount rate)
                   = $60 * (1 - 0.10)
                   = $60 * 0.90
                   = $54

So, the final price of the product after both discounts are applied is $54.