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The section covers the definition and significance of discounts in sales, including calculations of discounts through examples. It explains how to find both the discount amount and the percentage based on marked and sale prices.
Discounts are reductions given on the marked price (MP) of an article. This is often utilized in sales to attract customers and promote the purchase of goods. Discounts can be calculated by subtracting the sale price (SP) from the marked price (MP).
Formula for Discount: Discount = Marked Price - Sale Price
This section also discusses estimating percentages, exemplified by estimating a bill amount with a discount. For example, rounding off a bill of ₹577.80 and calculating a 15% discount can simplify computations. Thus, understanding discounts aids effective financial decision-making while shopping.
Discount: A reduction given on the marked price of an item.
Marked Price (MP): The original price before discounts.
Sale Price (SP): The final price after the discount is applied.
Discount Percentage: The percentage that shows how much discount is given.
To find the discount right, subtract some from the height, sale price you will see, marked price less is key.
Imagine a wise shopper named Mira who always checks marked prices. One day she saw a dress marked at ₹500 with a 30% discount and realized she could save ₹150!
Remember 'D-M-S' - Discount = Marked Price - Sale Price; this will help you always keep track of what's saved!
If a dress costs ₹120 and has a 20% discount, the discount amount is ₹24 and the sale price is ₹96.
For an item marked at ₹840 sold for ₹714, the discount is ₹126.
Term: Discount
Definition: A reduction from the marked price of an item.
A reduction from the marked price of an item.
Term: Marked Price (MP)
Definition: The original price listed for an item before any discounts.
The original price listed for an item before any discounts.
Term: Sale Price (SP)
Definition: The price of an item after the discount has been applied.
The price of an item after the discount has been applied.
Term: Discount Percentage
Definition: The percentage of the marked price that represents the discount.
The percentage of the marked price that represents the discount.