Practice!

Sample Problem

Fill in each blank

Market price

Selling Price

Discount

Percentage discount

$900

$720

$

$ %

$3,000

$2,700

$  

$ %

 

Solution

a) Use the formula:

Discount = Marked Price – Selling Price

Percent Discount = Discount/Marked Price × 100%

Discount: 900 – 720 = 180

The marked price: 900

The percentage of discount: 180 ÷ 900 = 0.2 = 20%

b) Use the formula:

Discount = Marked Price – Selling Price

Percent Discount = Discount/Marked Price × 100%

Discount: 3,000 – 2,700 = 300

The marked price: 3,000

The percentage of discount: 300 ÷ 3,000 = 0.1 = 10%