# Discounts

Olivia: Hey! Mom. What does discount mean?
Mom: Look this frock. Its price is $10 and we are getting it for$8

## Interactive Questions on Discount

Here are a few activities for you to practice. Select/Type your answer and click the "Check Answer" button to see the result.

## Let's Summarize

The mini-lesson targeted the fascinating concept of discount. We hope you enjoyed learning about discounts with the simulations and practice questions. Now, you will be able to easily solve problems on discount and discount rates.

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## 1. What discount means?

Discount is the amount reduced from the list price of a commodity before selling it.

## 2. How do you calculate a discount?

We can calculate the discount by subtracting the selling price from the list price.

## 3. What is the discounted rate?

It is the percentage by which list price is reduced before selling.

## 4. What is the formula for the discount rate?

The formula for discount rate is: \begin{align}\text{Discount rate}&=\left(\frac{\text{discount}}{\text{list  price}} \times 100 \right)\text{%}\end{align}

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