Discounts

Discounts

Olivia: Hey! Mom. What does discount mean?
Mom: Look this frock. Its price is $10 and we are getting it for $8
Hence, we are getting a discount of $2
Olivia: It means, the discount selling price is less than the listed price.
Mom: Correct, Olivia.

discount offer on clothes

Will you like to learn how the discount and the discount rate are calculated?
Come, let us learn in detail about the discount definition, discount rate, discount rate formula, and percent discount formula and you can find discount and discount rate using a discount calculator.

Lesson Plan

What Is Discount?

The amount of reduction on the list or marked price to sell the product at a lower price is called a discount.
The discount formula is:

\[\begin{align}\text{Discount}&=\text{ L.P - S.P } \end{align}\]
Where L.P stands for list price and S.P stands for selling price.

discount on shoes image


What Is Discount Rate?

The list price or marked price of any product decreases by some percentage to increase its sell is called the discount rate.
It is expressed in percentage.

The discount rate formula is:

\[\begin{align}\text{Discount rate}&=\left(\frac{\text{discount}}{\text{list  price}} \times 100 \right)\text{%}\end{align}\]

How Do You Calculate Discount?

To calculate the discount, you must have a marked price and selling price of the product you are buying.
Suppose, you want to purchase the chocolates showing in the image.

chocolates sale offer

Your list price = \($10\) and selling price = \($5\)

\[\begin{align}\text{Discount}&=\text{ L.P - S.P } \end{align}\]

\[\begin{align}\text{Discount}&= $10 - $5 \\&= $5 \end{align}\]
Hence, you got a discount of \($5\)

tips and tricks
Tips and Tricks

 

  • The easiest way to calculate the discount is to multiply the list price by the decimal form of the discount rate.
    Suppose, the discount rate is 20% then, discount = list price x 0.20

How Do You Calculate Discount Rate?

Suppose, you are purchasing a mobile whose list price is \($200\) and the discount offered on it is\($50\)
We will calculate the discount rate using the below formula.
Percent Discount formula
\begin{align}\text{Discount rate}&=\left(\frac{\text{discount}}{\text{list  price}} \times 100 \right)\text{%}\end{align}
Now, substitute the values of list price and discount.
\[\begin{align}\text{Discount rate}&=\frac{50}{200} \times 100 \\&= \frac{1}{4} \times 100 \\&= 25\text{%}\end{align}\]
Hence, your discount rate is \(25\%\)


Discount Calculator

Enter the values of list price and selling price, and click on "Get Answer" to find the discount and discount percent. 


Solved Examples

Example 1



 

Find the discount received by Bob on a chair, if the selling price of the chair is $7 and the list price is $10? 

man buying television

Solution

Bob's list price = \($10\) and selling price = \($7\)
\[\begin{align}\text{Discount}&=\text{ L.P - S.P } \\&= $10 - $7 \\&= $3 \end{align}\]

Hence, Bob received a discount of  \($3\)
Example 2

 



Daniel paid $20 for a T-shirt in a sale, while the price tag was $25. Find discount in percentage?

T-shirt for sale

Solution

Before finding the discount rate, we will find a discount.
We have, list price=  \($25\) and selling price= \($20\)
Therefore,\[\begin{align}\text{Discount}&=\text{ L.P - S.P } \\&= $25 - $20 \\&= $5 \end{align}\] 
We will calculate the discount rate using the below formula.
\[\begin{align}\text{Discount rate}&=\left(\frac{\text{discount}}{\text{list  price}} \times 100 \right)\text{%}\end{align}\]
Now, substitute the values of list price and discount. 
\[\begin{align}\text{Discount rate}&=\frac{5}{25} \times 100 \\&= \frac{1}{5} \times 100 \\&= 20\text{%}\end{align}\]

Hence, Daniel got a \(20\%\) discount.
 

Challenge your math skills
Challenging Questions

Identify, which brand of bag is offering more discount? 

Brand List price Selling price
Sports k $250 $225
Long run $400 $340
Comfort P $100 $80

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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Frequently Asked Questions (FAQs)

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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