Practice!

Sample Problem

Fill in each blank

Market price

Selling Price

Discount

Percentage discount

 $

$1,292

 $68

   %

 $

$225

 $150

  %

Solution

a) Use the formula:

Marked Price = Selling Price + Discount

Percent Discount = Discount/Marked Price × 100%

Marked Price: 1,292 + 68 = 1,360

Percentage of discount: 68 ÷ 1,360 = 0.05 = 5%

b) Use the formula:

Marked Price = Selling Price + Discount

Percent Discount = Discount/Marked Price × 100%

Marked Price: 225 + 150 = 375

Percentage of discount: 150 ÷ 375 = 0.4 = 40%