What is the formula for discounts?
The formula used to calculate the rate of discount is (discount ÷ list price) × 100. In the formula, the discount is the difference between the marked price and the selling price. Another formula that can be used for calculating discount percentage is [(List price – Selling price)/List price] × 100.
How to Solve Discount Problems
Introduction
Discount problems can be a tricky thing to solve, especially if you’re not familiar with the math behind them. Discounts can come in a variety of forms, from a percentage off a purchase price to a buy one get one free deal. Knowing how to solve these types of problems can help you make better purchasing decisions and save money. In this article, we’ll discuss the basics of discount problems and provide step-by-step instructions on how to solve them.
What is a Discount Problem?
A discount problem is a type of math problem that involves finding the original price of an item after it has been discounted. Discounts can be expressed as either a percentage or a dollar amount. For example, if an item is discounted 20%, the original price must be calculated in order to find the new discounted price.
How to Solve Discount Problems
Solving discount problems requires the use of basic math principles such as fractions, percentages, and decimals. The following steps will help you solve discount problems:
Step 1: Identify the Original Price
The first step in solving a discount problem is to identify the original price of the item. This is the price of the item before any discounts are applied.
Step 2: Calculate the Discount Amount
Once you’ve identified the original price, you can calculate the discount amount. If the discount is expressed as a percentage, simply multiply the original price by the percentage to find the discount amount. For example, if the original price is $100 and the discount is 20%, the discount amount would be $20 ($100 x 0.20 = $20).
Step 3: Subtract the Discount Amount from the Original Price
The next step is to subtract the discount amount from the original price. This will give you the new discounted price. For example, if the original price is $100 and the discount amount is $20, the new discounted price would be $80 ($100 – $20 = $80).
Step 4: Calculate the Savings
Finally, you can calculate your savings by subtracting the discounted price from the original price. For example, if the original price is $100 and the discounted price is $80, your savings would be $20 ($100 – $80 = $20).
Frequently Asked Questions
Q: What is a discount problem?
A: A discount problem is a type of math problem that involves finding the original price of an item after it has been discounted. Discounts can be expressed as either a percentage or a dollar amount.
Q: How do I calculate the discount amount?
A: If the discount is expressed as a percentage, simply multiply the original price by the percentage to find the discount amount. For example, if the original price is $100 and the discount is 20%, the discount amount would be $20 ($100 x 0.20 = $20).
Q: How do I calculate my savings?
A: You can calculate your savings by subtracting the discounted price from the original price. For example, if the original price is $100 and the discounted price is $80, your savings would be $20 ($100 – $80 = $20).
Conclusion
Discount problems can be tricky to solve but with a bit of practice and some basic math principles, you can easily figure out how much you’re saving with each deal. By following the steps outlined in this article, you’ll be able to quickly and accurately solve discount problems and make better purchasing decisions.