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When finding the sale price of an item it is necessary to
know the discount.
A discount
can be given in a couple of different ways. |
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A shoe store may advertise that every pair of jeans is being discounted $10. In other words if a
pair of jeans regularly sells for $50, on sale it would now
cost $40 |
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Another store may advertise that all of their jeans
are 50% off!
Which sale is
better? Which store has the biggest discount? |
Not a very difficult concept to understand.
However, more often than not, a store will give the discount
as a percent number.
This lesson will show you how to perform this very basic
calculation.
Some people believe that the reason for giving a discount as
a percent is that the store owners believe that most people
don't really understand how a percent "works" and therefore
they may be able to "trick" the customer into believing that
they are saving more money than they actually are.
It certainly does require slightly more math ability to
calculate a discount when it is given as a percent.
But with a little practice, it is a very valuable skill to
be able to perform if you want to be a "smart shopper."
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For these problems we will use the following formula:
Sale Price = Regular Price - Discount
Amount*
*To calculate the discount amount when it is given as a
percent we will use this formula:
Discount Amount = (Regular Price) x (Rate
of Discount) |
Example.....
A pair of skiis is on sale at 20% off the regular price of $389.
What is the sale price of these skiis?
Solution:
Step 1:
Change the percent number to a decimal number:
20% = .20 (or just .2)
Step 2:
Multiply the regular price by the decimal number:
(389) x (.2)
$77.80
Step 3: Subtract
the discount amount from the regular price:
(389) - (77.80)
$311.20
The sale price for the pair of skiis is
$311.20 ***************************************
Another example....
A suit that regularly sells for $499.99 is on sale for
35% off.
How much will the customer save by buying the suit on sale?
What is the sale price of the suit?
Solution:
To find the Discount Amount:
Step 1: Change the percent to a decimal number:
35% = .35
Step 2: Multiply the regular price by the decimal number:
(499.99) x (.35)
174.9965
We must round to the nearest hundredths (the pennies) place
174.9965 = 175.00
The customer would save $175 by buying the
suit on sale.
To Find the Sale Price:
Step 3: Sale Price = Regular Price - Discount Amount
Sale Price = (499.99) - (175.00)
$324.99
The sale price of the suit is $324.99
*************************************
Although the method for finding a sale price is normally
done following the method described in the problems above, there
is an
alternate method for performing the same process which
will be outlined in this example.
Megan bought a winter coat which regularly sells for $185.
It had been marked "25% Off"
What was the sale price of the coat?
Alternate Method
Step 1:
For this method it is necessary for the student
to understand that the regular price of the coat represents 100%
of the cost of the coat.
Step2:
If it is discounted 25%, then the sale price of the coat is
equal to 100% - 25% or 75% of the
original cost
of the coat.
Step 3:
We can determine the sale price by simply converting the percent
(75%) to a decimal number (.75) and multiplying it by the
regular price (185).
(185) x (.75)
$138.75
The sale price of the coat is $138.75
******************************************* As you can see, either method will give you the sale price.
However, in many problems you will be required to find the
discount amount. For those problems you will need to
follow the first method described above. |
