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Discount Formulas with Question and Answers-Full set of all formulas

discount questions
Recently we have discussed about Profit and Loss shortcut formulas and questions, this time we will be discussing discount formulas and questions with answers
What is discount?
Discount is a rebate which the shopkeeper gives to their customers on selling some goods.
Note: Discount is always calculated on Print Rate (PR)
Here are some important rules and facts of discounts.
·         Selling price (SP)= Print rate – Discount


·         If the rate of discount is r%, then
SP= PR*{(100-r)/100}

·         If a shopkeeper wants to make a profit of R% and also gives discount of r%, then
PR= CP*{(100+R)/(100-r)}            where CP= Cost Price

·         If an item is sold on consecutive discounts of r1 %, r2 %, r3 %, then
SP= PR[{(100-r1)/100}{(100-r2)/100}{(100-r3)/100}]
And if SP of the price is given then
PR= CP{(100*100*100)/(100-r1)(100-r2)(100-r3)}

·         If a shopkeeper wants to make a profit of R% and also gives discount of r%, then that shopkeeper should write PR more than the CP by [100(r+R)/(100-r)]

·         If on selling an item, there are two discounts of r% and R% given on the item, then SP of the item should be      
SP= PR[{(100-r)/100}{(100-R)/100}]

·         If there are two discounts on an item of r% and R%, then equivalent discount to both of these discounts will be
= {r+R-(rR/100)}

Example:1
A shopkeeper has an item which has a print rate of 3500. The shopkeeper sold that item with 40% profit after giving a discount of 20%, find the CP of the item?
Solution:
Now r= 20%
and        R=40%
PR= 3500
Now formula for CP
CP= PR[(100-r)/(100+R)]
CP= 3500[(100-20)/(100+40)]
CP= (3500*80)/140
CP= 2000


Example:2
Find the equivalent discount (ED) to consecutive discounts of 20% and 30%.
Solution:
ED= r+R-(rR/100)              %
ED= 20+30-{(20*30)/100}              %
ED= 50-6=44 %
Hope you understand all the formulas given above and can solve the discount problems better.

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