Discount
A discount is a reduction in the price of an item. Shopkeepers offer it to attract customers or clear old stock. There are three main price terms you must know. First is the Cost Price (CP). This is the price at which a shopkeeper buys an item. Second is the Marked Price (MP). This is also called the List Price or Label Price. It is the price written on the tag. Third is the Selling Price (SP). This is the final amount a customer pays after the discount.
Concepts (3)
When two or more discounts are given one after another, it is called a successive discount. To find one single discount that equals these, use a formula. For two discounts of a% and b%, the single discount is (a + b - ab/100)%.
When two or more discounts are given one after another, it is called a successive discount. To find one single discount that equals these, use a formula. For two discounts of a% and b%, the single discount is (a + b - ab/100)%. For example, discounts of 20% and 10% give a total discount of 28%, not 30%.
In these offers, the customer pays for 'X' items but takes home 'X + Y' items. The shopkeeper gives 'Y' items as a discount. To find the percentage, divide the number of free items by the total number of items received.
In these offers, the customer pays for 'X' items but takes home 'X + Y' items. The shopkeeper gives 'Y' items as a discount. To find the percentage, divide the number of free items by the total number of items received. Example: In 'Buy 5 Get 1 Free', the discount is (1 / 6) * 100, which is 16.67%.
This is a shortcut for questions where both discount and profit percentages are given. It helps you find the ratio between Cost Price and Marked Price directly.
This is a shortcut for questions where both discount and profit percentages are given. It helps you find the ratio between Cost Price and Marked Price directly. If a shopkeeper allows a discount of D% and still makes a profit of P%, you can find the price levels easily. This avoids multiple calculation steps.
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Start Lesson: Single Equivalent Discount