Discount and Discount Percentage


 
 
Concept Explanation
 

Discount and Discount Percentage

Discount: Discount is defined as the amount of rebate given on the label price (marked price) of an article. It is given by merchants/shopkeepers for attracting customers for increasing their sales. The customer or buyer pays the difference between the marked price and the discount. Thus,

S.P. = Marked Price - Discount

Rate;of;Discount;=Discount; percentage = frac{Discount}{Marked; price}; times ;100

Discount; percentage = frac{M.P.-S.P.}{M.P.}; times ;100

Illustration: A shopkeeper marked an article at rs 4950. He then gave a discount of Rs 495. Find his discount %?

Solution: Marked Price = Rs 4950

               Discount = Rs 495

large Discount; percentage = frac{Discount}{Marked; price}; times ;100

large Discount; percentage = frac{495}{4950}; times ;100 = 10%

Illustration: Articles are marked at a price which gives a profit of 25%. After allowing a certain discount, the profit reduces to large 12tfrac{1}{2}%. Find the discount percent.

Solution: Let the C.P. of an article be Rs 100. Then, to attain a profit of 25%, marked price must be 25% more than the cost price.

So, Marked price = Rs 100 + Rs 25 = Rs 125

After allowing a certain discount the profit reduces to large 12tfrac{1}{2}%.

So, Profit = large 12tfrac{1}{2}%;of ;C.P.

              large =12tfrac{1}{2}%;of;Rs 100

              large =frac{12tfrac{1}{2}}{100}times Rs 100

             large = Rs; 12tfrac{1}{2}

So, S.P. = C.P. + Profit

            large = Rs;100+Rs; 12tfrac{1}{2}

            large = Rs; 112tfrac{1}{2}

Now, M.P. = S.P. + Discount

  large Rightarrow Discount = M.P.  - S.P.

                     large =Rs;125-Rs;112tfrac{1}{2}

                      large =Rs;12tfrac{1}{2}

 So, Discount % large =left ( frac{Discount}{M.P.}times 100 right )

                        large =left ( frac{12tfrac{1}{2}}{125}times 100 right )

                         large =left (frac{25}{2} times frac{100}{125}right )

                        large =10

Hence, discount = 10%               

Sample Questions
(More Questions for each concept available in Login)
Question : 1

what is the formula of discount percent ?

Right Option : C
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Explanation
Question : 2

A man bought mangoes at 12 for a rupee.how many for a rupee must he sell to gain 20%?

Right Option : A
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Explanation
Question : 3

A shop selling sewing machines offers 3% discount on all cash purchases. What cash amount does a customer pay for a sewing machine the price of which is marked as Rs 650.

Right Option : C
View Explanation
Explanation
 
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