Discount and Discount Percent
We will learn how to calculate discount and discount percent on marked price.
Suppose, while purchasing different articles from the market, we must have seen that most of the articles have their prices printed on them or their prices are written on the labels attached to them. This price, printed on an article or written on the label attached to it, is called its marked price (M.P.) or list price or advertised price.
Now in order to clear surplus stock or to increase the sales of different articles, the shopkeepers at different occasions announce some discount sale, i.e., they reduce the price of their articles by certain rate percent.
This discount or rebate means a reduction in the price which is always calculated on the marked price of the article.
Selling Price = Marked Price - Discount
i.e. S.P. = M.P. – Discount
1. An article is marked at $6000 and is available at a discount of 12%. Find the sale-price of the article.
Solution:
Marked price (M.P.) of the article = $6000
And, discount = 12% of $6000
= 12/100 × $6000
= $720
Selling Price = Marked Price - Discount
= $6000 - $720
= $5280
Therefore, the sale-price of the article is $5280
2. A dealer marks a car for $9000 but agrees to give a discount of 20%. Find the selling price of the car.
Solution:
Marked price (M.P.) of the car = $9000
And, discount = 20% of $9000
= 20/100 × $9000
= $1800
Selling Price = Marked Price - Discount
= $9000 - $1800
= $7200
Therefore, the selling price of the car is $7200
Formula to calculate discount and discount percent on marked price:
Discount = Marked Price - Selling Price
Discount% = Discount/Marked Price × 100%.
3. Exercise equipments marked at $8000 is sold for $7200. Find the discount and discount as percentage.
Solution:
Marked price = $8000
Selling price = $7200
We know, discount = marked price - selling price
= $8000 - $7200
= $800
Therefore, discount on exercise equipments is $800
We know, discount% = Discount/Marked Price × 100%
= 800/8000 × 100%
= 10%
Therefore, discount% on exercise equipments is 10%
4. Goods marked at $155, is sold for $124. Find the discount and discount percent.
Solution:
Marked price = $155
Selling price = $124
We know, discount = marked price - selling price
= $155 - $124
= $31
Therefore, discount on goods is $31
We know, discount% = Discount/Marked Price × 100%
= 31/155 × 100%
= 20%
Therefore, discount percent on goods is 20%
Note:
Discount i.e., reduction in price is always calculated on marked price.
To find Profit or Loss when Cost Price and Selling Price are Given
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