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A shopkeeper marks a price of $500 on an item and offers a discount of 10%. What

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Question: A shopkeeper marks a price of $500 on an item and offers a discount of 10%. What is the selling price after the discount? (2023)

Options:

  1. $450
  2. $475
  3. $500
  4. $525

Correct Answer: $475

Exam Year: 2023

Solution: 

Discount = 10% of 500 = 50. Selling Price = Marked Price - Discount = 500 - 50 = $450.

A shopkeeper marks a price of $500 on an item and offers a discount of 10%. What

Practice Questions

Q1
A shopkeeper marks a price of $500 on an item and offers a discount of 10%. What is the selling price after the discount? (2023)
  1. $450
  2. $475
  3. $500
  4. $525

Questions & Step-by-Step Solutions

A shopkeeper marks a price of $500 on an item and offers a discount of 10%. What is the selling price after the discount? (2023)
  • Step 1: Identify the marked price of the item, which is $500.
  • Step 2: Calculate the discount by finding 10% of the marked price. To do this, multiply 500 by 0.10 (which is 10% in decimal form).
  • Step 3: The calculation for the discount is 500 * 0.10 = $50.
  • Step 4: Subtract the discount from the marked price to find the selling price. So, $500 - $50 = $450.
  • Step 5: The final selling price after the discount is $450.
  • Percentage Calculation – Understanding how to calculate a percentage of a given amount, in this case, the discount on the marked price.
  • Subtraction – Applying basic subtraction to find the selling price after the discount is applied.
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