Discount

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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 %?

Solution :
Reduction = Marked price - selling price

= 840 - 714

Reduction = $126

As Reduction is on marked price,

Reduction % = (Discount/M.P) x 100

= (126/840) x 100

= 12,600/840

Hence, Reduction % = 15

3) Find the selling price of :
Original price of a microphone: $49.99
Reduction: 5%
Tax: 5%

Solution:
Original price of a microphone: $49.99

Reduction: 5%

Tax: 5%

5/100 = Reduction/49.99

Cross multiply

100 x Reduction = 49.99 x 5

100 x Reduction = 249.95

So, Reduction = 249.95/100

Reduction = $2.4995

S.P = Original price - Reduction

= 49.99 - 2.4995

= $47.4905

Hence, selling price is $47.49

4) The marked price on a book is $450. The shopkeeper gives 20% Reduction on it in a book exhibition. What is the selling price ?

Solution :
Marked price = M.P. = $450

Reduction of 20 % of 450

Reduction = ( 20 / 100 ) x 450

= 9000/ 100

Reduction = $90

S.P = M.P – Reduction

= 450 – 90

Selling price = $360

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Discount

• Successive discount

Business Math
8th grade math
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