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Discount: Formulas and Shortcuts for Easy Calculations

Learn the formulas and shortcuts for calculating Discount which is an extended portion of Profit and Loss chapter of Quantitative Aptitude Segment. Here, you will get to know the shortcuts and formulas to solve these questions quickly and with accuracy.
Jan 15, 2018 15:20 IST
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The concept of Discount is a mere extension of Profit and Loss chapter of Quantitative Aptitude Segment.

Discount Chapter

Learn the formulas and shortcuts of Profit and Loss

Calculating Discount is quite a useful mathematical skill as it can be applied in your day-to-day life such as:

•    Getting coupon discount at your meal order

 Discount Voucher

•    Getting discount at a retail store:

 Discount Sale

•    Or giving discount on your own service to customers:

 Discount Service

Let us understand the basic concept and formulas for calculating the percentage discount quickly and effortlessly.

DISCOUNT:

Discount means reduction of marked price by a seller to sell at a lower rate. In simple words, it means concession given by a seller on a product or service.

Discount is calculated on the basis of marked price:

 Discount Formulas

Solved Example

Here is an example to understand the relationship between Marked Price, Selling Price and Discount:

Example: A trader offers his customers 15% discount and still makes a profit of 25%. What is the actual cost to him for an article marked Rs. 350?

Solution:          Given that Marked Price = Rs. 350

Marked Price – (Marked Price X Discount %) = Selling Price __________ (1)

And, Selling Price = Cost Price + (Cost Price X Gain %) __________________ (2)

From (1) and (2)

Marked Price – (Marked Price X Discount%) = Cost Price + (Cost Price X Gain%)

Discount Example

After calculation, we get,  Cost Price = Rs. 238

Learn the basic concept and formulas of Percentage

SUCCESSIVE DISCOUNTS:

Meaning:

DISCOUNT ON THE DISCOUNT

Formulas:

Effective discount on a product after x% and y% of discount is given by:

Successive Discount

Discount when you buy x products and get y products free is given by:

Successive Discount

Solved Example

Here is an example to understand the successive discount formula:

Example: Find the selling price of an article if a shopkeeper allows two successive discounts of 5% each on the marked price of Rs.80.

Successive Discount Example

So, now you know how easy it is to calculate the discount even without using a calculator.

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