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Question
The discount on an item for sale is calculated on the _________.
The discount on an item for sale is calculated on the _________.
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Solution
The discount rate.
The price of the total quantity/amount is frequently less than the original value, which is known as the discount rate.
The marked price is the cost determined by the seller by market standards, while the selling price is the price at which the product or commodity was sold.
When the selling price is lower than the marked price, a buyer claims to have received a discount.
Discount = Marked price – Selling price
Where,
- Marked Price = The product's actual price, excluding any discounts.
- Selling Price = The price at which customers pay for a product.
- Discount = Percentage of the marked price.
Discount rate
Where,
- Marked price
- rate of interest
Hence, the discount on a sale item is based on the marked price.
The discount rate.
The price of the total quantity/amount is frequently less than the original value, which is known as the discount rate.
The marked price is the cost determined by the seller by market standards, while the selling price is the price at which the product or commodity was sold.
When the selling price is lower than the marked price, a buyer claims to have received a discount.
Discount = Marked price – Selling price
Where,
- Marked Price = The product's actual price, excluding any discounts.
- Selling Price = The price at which customers pay for a product.
- Discount = Percentage of the marked price.
Discount rate
Where,
- Marked price
- rate of interest
Hence, the discount on a sale item is based on the marked price.
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