Final Choice

This false branch contains just a single statement

      LET RATE = 0.75

which will execute without any further bother. After it executes the complete IF structure everything between the first IF and its matching END IF is finished. Here is a review of what happened. The statements are numbered in the order that they executed:

(1) PRINT "Enter full fare"
(2) INPUT FARE          <-- $400
(3) PRINT "Enter age"
(4) INPUT AGE           <-- 77 
    '
    'Calculate discount based on age
(5) IF AGE < 12 THEN  <-- false
      LET RATE = 0.0

    ELSE

(6)   IF AGE  < 24 THEN  <-- false 
        LET RATE = 0.70
      ELSE

(7)     IF  AGE < 65 THEN   <-- false 
          LET RATE = 1.0
        ELSE
(8)       LET RATE = 0.75
        END IF

      END IF

    END IF

    'Calculate fare
(9) PRINT "Your fare is:", FARE * RATE  <-- 400 * 0.75 
(10)END