Discount is a reduction given on the marked price.
Shopkeeper devise several schemes to attract customers. One way to attract customer is giving rebate or reduction in price.
The price attached to the article is called the Marked Price( M.P ).
Reduction is generally given as a certain percent (%) of the marked price. Customer pays the difference between the marked price and the rebate.
Reduction = M.P - S.P
Reduction % = (Discount / M.P) x 100
S.P = M.P - Discount
Examples :
1) Marked price of a book is $40. It is sold at a rebate of 20%. Find the discount allowed on the book and its selling price.
Solution:
2) An item marked at $840 is sold for $ 714. What is the rebate and reduction %?