Example 1:
Determine the discount Bob received on a chair if the selling price is $6 and the list price is $10.
Solution:
It is given that, original price = $10 and sale price = $6.
Discount = Original price – Sale price.
Discount = $10 – $6
= $4.
As a result, Bob got a $4 discount.
Example 2:
The price tag on a T-shirt said $30 but Daniel only paid $20 because there was a discount. Calculate the discount.
Solution:
It is given that, original price = $30 and sale price = $20.
Therefore, discount = original price – sale price
= $30 – $20
= $10
As a result, Daniel received a $10 discount.
Example 3:
A store pays $65 for a belt. Further, a 35% markup is applied on it. How much does John pay for the belt?
Solution:
Mark up = 35% × 65
= 0.35 × 65
= 22.75
Selling price = Cost to store + Markup
= 65 + 22.75
= 87.75
As a result, John purchases the belt for $87.75.
Example 4:
You go shopping for your mother and spend $120 on a pair of earrings. You find out later that the price had been increased by 20 %. What was the price of the earrings purchased by the store?
Solution:
Let the cost to store be C.
Markup = Markup% × Cost to store
= 20% × C
= 0.20 C
Cost to store = Selling price – Markup
C = 120 – 0.20C
C + 0.20C = 120
1.20C = 120
C = \(\frac{120}{1.20}\)= $100
As a result, the cost to store is $100.
Example 5:
If a software costs $2000, a shopkeeper applies a 40% discount on the software for computers on account of Black Friday. Calculate the sale price of the software.
Solution:
Discount = Discount % \(\times\) original price
Discount = 40 % × 2000
= \(\frac{40}{100}\)× 2000
= 800
Discount = Original price – Sale price
800 = 2000 – Sale price
Sale price = 2000 – 800
Sale price = 1200
As a result, the sale price of the game is $1200.
