An item marked at ₹840 is sold for ₹714. What is the discount and discount percentage?

by

Points to Remember:

  • Discount is the reduction in price.
  • Discount percentage is the discount expressed as a percentage of the marked price.

Introduction:

This question involves a simple calculation of discount and discount percentage. The marked price of an item is the price at which it is advertised or displayed for sale. The selling price is the actual price at which the item is sold. A discount is offered when the selling price is less than the marked price. Understanding discounts is crucial for consumers to make informed purchasing decisions and for businesses to strategize pricing effectively.

Body:

1. Calculating the Discount:

The discount is the difference between the marked price and the selling price.

  • Marked Price (MP) = ₹840
  • Selling Price (SP) = ₹714

Discount = MP – SP = ₹840 – ₹714 = ₹126

Therefore, the discount offered is ₹126.

2. Calculating the Discount Percentage:

The discount percentage is calculated as the discount amount divided by the marked price, multiplied by 100.

Discount Percentage = (Discount / Marked Price) × 100

Discount Percentage = (₹126 / ₹840) × 100 = 0.15 × 100 = 15%

Therefore, the discount percentage is 15%.

Conclusion:

In summary, an item marked at ₹840 sold for ₹714 offers a discount of ₹126, which represents a 15% discount on the marked price. Understanding discounts is essential for both buyers and sellers. Consumers can use this knowledge to compare prices and find the best deals, while businesses can use this information to optimize their pricing strategies and maximize profits while remaining competitive. Promoting transparency in pricing and clearly displaying discounts fosters consumer trust and contributes to a healthy and fair marketplace. This simple calculation highlights the importance of basic mathematical skills in everyday financial transactions.

MPPCS  Notes brings Prelims and Mains programs for MPPCS  Prelims and MPPCS  Mains Exam preparation. Various Programs initiated by MPPCS  Notes are as follows:- For any doubt, Just leave us a Chat or Fill us a querry––