Objective:
- Calculate the discount and selling price of an item
What is a Discount?
A discount, also known as a markdown, occurs when the price of an item is decreased by a certain percent. Some examples of discounts in the real world include sales such as Black Friday and Cyber Monday. Some other examples include gas prices, plane ticket prices, the price of clothing items, and stocks. In these cases, the prices are always increasing and decreasing. If the price increases then it is a markup and if the price decreases then it is a markdown.
Discount: The amount of money a price is decreased.
Selling price: The new price of an item after it has been discounted.
We can calculate the discount and selling price with the formula's below:
Discount: The amount of money a price is decreased.
Selling price: The new price of an item after it has been discounted.
We can calculate the discount and selling price with the formula's below:
Examples
Let's look at a few examples of a real-world problem involving a discount!
In the example above, $75.00 is equivalent to $75. You could multiply 0.2 by $75 and you will also get $15 for the discount.
Let's look at another discount example:
Your Turn
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